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it's time. May I start the presentation, uh, on transforming Toshiba to enhance shareholders' value, and FY21 second quarter consolidated business results. We are organized this presentation session on online basis. From four to five o'clock, we will be presenting from our side, and followed by 30 minutes questions session for the mend- uh, the media. The questions from allies and the investors will be accepted from 5:30 to six o'clock Japan time. Please be aware of that. Now, we will be collecting questions via telephone conferencing system. As is informed to you beforehand, the conference call system, uh, will require the pre-registration beforehand. Let me introduce the presenters today. President and CEO, Satoshi Tsunakawa. Corporate Senior Executive Vice President, Mamoru Hatazawa. Representative Executive Officer, Corporate Executive Vice President and CFO, Masayoshi Hirata. We have, uh, Chairperson of the Strategic Review Committee Outside Director, uh, Paul Brough. He is joining from Hong Kong, uh, on- online. My name is Hara of Communications, Corporate Communication Department. We are providing simultaneous translation. So if you are watching the live, uh, str- streaming in Japanese, you will be able to hear translation's voice. Please be aware of that. First, before going into transforming Toshiba to enhance shareholders' value. May I have Mister Tsunaka to say a few words, uh, upon the receipt of the report from Governance Enhancement Committee today. Mr Tsunakawa, please. Now, first of all, uh, I would like to say a few words on behalf of the, uh, the company, uh, upon the report of the Governor Enhancement Committee. First off, I would like to express profound appreciation to the members of the Governor Enhancement Committee, uh, who have made tremendous efforts and time since their appointment to investigate the root cause of the issue, uh, raised in the investigation report, clarify where the responsibility lies, and compile recommendations for formulating the measures to prevent recurrence. I recognize that the Toshiba's Governance Enhancement Committee, based on the strong belief that restructuring of the governance is essential for the revival of the Toshiba, has compiled report for our future. In fact, no issue of illegality was, uh, discovered, um, according to the report of the Governor Enhancement Committee. Having said that though, I feel as a part of the senior management of the company, I am extremely ashamed and embarrassed that the, um, the, uh, senior members of the company, uh, and their actions, uh, was concluded that an act, uh, as a whole, uh, violates the corporate ethics demanded by the market. We have just received a final report of the Governance Enhance Committee that, uh, we will continue to discuss the governance seriously within the company based on the contents of the report, including recommendations for the formulation of the recurrence prevention measures. We believe that this recurrence prevention measures will form the very first step to restore the trust of the shareholders who have, which have been restored so far. Now one of the group's philosophy is, uh, doing the right think. Uh, many employees on the front lines of the operations are working, uh, day to day, uh, based on this value. On the other hand, I believe that, uh, some of the members of the senior management were acted, uh, quite, uh, differently from this mostly, and that should be, uh, sincerely remorsed over. The corporate management is established based on the trust relationship with all stakeholders. The Governance Assessment Committee also pointed out that the importance of top <inaudible> and organizational leaders demonstrating their commitment to value, ethics and integrity. Until now, um, the culture to recognize the mistakes and the very, uh, good communication so that, uh, anyone can raise opinions escalated, uh, just to the higher level. But also, uh, we need to ensure the psychological safety of all employees. Uh, we will make, um, strict, uh, persistent efforts in this regard. As I will announce today, our group decided to separate the energy infrastructure business and storage device businesses. There will be a f- uh, the separate companies, and aim for the IPOs are set independently. This is a drastic change, but because this business will be separated and being independent, and therefore, uh, the, um, committed to people and committed to the future based on this philosophy. Under the new, uh, corporate culture, each business is poised to grow, uh, and this is a great opportunity. But beforehand, uh, it is a critical, uh, mission of the senior management to enhance governance beforehand. I appreciate your continued support and asking for your cooperation. Thank you very much. Next, we'd like to, uh, present on the transforming Toshiba to enhance our shareholders' value. And, uh, Mr. Tsunakawa will m- make presentations. Next, I would like to explain on our new management policy titled as Transforming Toshiba to Enhance Shareholders' Value. Uh, the, uh, Corporate Executive Vice, uh, President Hatazawa will also, uh, be, uh, uh, presenting. And also on online, uh, Chairperson of Strategic Review Committee, Mr. J- Paul, uh, will also be attending as well. Now, uh, to- today, Toshiba Group has decided on its significant transformation to further leap forward for the future. Let me first introduce why this is the best path forward for Toshiba, uh, and our shareholders, and what it, what it means for our business going forward. And then we would like to invite Mr. Brough to explain on the evaluation made by the Strategic Review Committee. After that, Mr. Hataza will talk on what the business outlook will be for the standalone companies after separation. First, uh, about, uh, our path to unlocking the value, uh, that I'd like to explain. Now, at the Board of Director meeting held this morning, decision was made for Toshiba's strategic reorganization to separate the business into two businesses. As a result, uh, there will be three standalone companies to be, um, formulated. One an infrastructure service company, second is device company, and the third is Toshiba. As we concluded this strategic reorganization to be the best path forward for Toshiba and their stakeholders, we took into account the view of our important shareholder, stake- shareholders and other casto- stakeholders, as well as the business characteristics and the value chain of, uh, each of our diverse businesses. Over our history of over 140 years, Toshiba has constantly evolved to stay ahead of the times. Today's announcement is no different. Toshiba has built a portfolio of leading the businesses. But in order to enhance our competitive positioning, each business needs greater flexibility to address its own market opportunities and challenges. The official names for the new companies will be announced in due course. Here is an overview of the three independent businesses. Infrastructure service company will, uh, consist of Toshiba energy systems and solutions, infrastructure systems and solutions, building solutions, digital solutions, and battery businesses, and become a company with the forecasted net sales of 2.1 trillion yen, according to this fiscal year's forecast. Its increased focus, combined with its innovative technological solutions, will enable it to play a leading role in driving the transition to renewable energy, to meet ambitious global carbon neutrality goals, and advancing infrastructure resilience as a leading player. Device company will com- be comprised of To- Toshiba electric device and storage solutions business, and become a company with forecasted net sales of 870 billion yen. Its products will be including power, semiconductors, high-capacity hard disk drives, HDD for data centers, and semiconductor-manufacturing equipment. It will be a global leader in supporting the evolution of social and IT infrastructure. Toshiba will continue to hold the company's on- ownership stake in Kioxia Holding Corporation and Toshiba Tec Corporation. Co- Toshiba will seek to monetize the share of Kioxia at an appropriate timing. The separation this time enables us to better align each new companies by its unique business characteristics. Infrastructure service company relate, um, business focus on the direct sale of equipment and the provision of solutions to specific customers. It has long business cycles that are more heavily dependent on negotiations between business parties than the market conditions at large. In addition, it will be a capital-light business and there are also major differences in, to the extent in which we conduct customized production. In contrast, device company primarily manufacturers and sells devices such as semiconductor's and other materials. Its business cycles are shorter and can be impacted significantly by the market conditions. It will be a capital-intensive business that requires scale of a continuous production across multiple customer orders. 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it's time. May I start the presentation on transforming Toshiba to enhance your value and FY21 second quarter consolidated business results. We are organized this presentation session on online basis. From 4 to 5 o'clock, we will be presenting from our side and followed by 30 minutes' questions session for the middle of the media. The questions from Alice and investors will be accepted from 5.30 to 6 o'clock Japan time, please be aware of that. Now, we will be collecting questions via telephone conferencing system. As is informed you beforehand, the conference call system will require the pre-registration beforehand. Let me introduce the presenter today. President and CEO Satoshi Tznakawa. Corporate Senior Executive Vice President, Mamor Hatazawa. Representative, Executive Executive Executive Officer, Corporate Executive Vice President, N.C.O. Masayoshi Hippooshihira. We have a chairperson of the Strategic Review Committee outside director of Paul Broff, who is joining from Hong Kong on online. My name is Hara of Communications, Corporate Communication Department. We are providing simultaneously transition, so if you are watching the live streaming in Japanese, you will be able to hear translation's voice. Please be aware of that. First, before going into transforming Toshiba to enhance your status value, may I have Mr. Tunaka to see a few words upon the receipt of the report from governance enhancement committee today. Mr. Sunaka, please. Now, first of all, I'd like to say a few words on behalf of the company upon the report of the Government and Enforcement Committee. First off, I'd like to express profound appreciation to the members of the Governor and Enniscent Committee, who have made tremendous efforts in time since their appointment to investigate the root cause of the issue raised in the investigation report, clarify where the response to the rights and compile recommendations for formulating the measures to prevent recurrence. I recognize that the Toshiba's government enhancement committee, based on the strong belief that restructuring of the government is essential for the revival of the Toshiba, has compiled a report for our future. In fact, no issue of illegality was discovered, according to the report of the government enhancement committee. Having said that, I feel, as a part of the senior management of the company, I am extremely ashamed and embarrassed that the... The senior members of the company and their actions was concluded that an act as a whole violates the corporate ethics demanded by the market. We have just received a final report of the governance and hence committee, but we will continue to discuss the governance seriously within the company based on the contents of the report, including recommendations for the affirmation of the recurrence prevention of medias. We believe that this recurrence prevention measures will form the very first step to restore the trust of the shareholders which have been restored so far. Now, one of the group's philosophy is doing the right thing. Many employees on the front lines of the operations are working day-to-day based on this value. On the other hand, I believe that some of the members of the Singe Management were acted quite differently from this policy and that should be sincerely remorse over. The corporate management is established based on the trust relationship with all stakeholders. The Governor Assessment Committee also pointed out that the importance of top-at-a-ton and organizational leaders demonstrating their commitment to value, ethics, and integrity. Until now, the culture to recognize the mistakes and very good communication so that anyone can raise opinions escalated to a higher level, but also we need to ensure the psychological safety of all employees. We will make persistent efforts in this regard. As I will announce today, our group... decided to separate the energy infrastructure business and storage device business. There will be separate companies and aim for the IPOs independently. This is a drastic change, but because these business will be separated and being independent, and therefore, The committee to people and committed to the future, based on this philosophy under the new corporate culture, each business is poised to grow and this is a great opportunity. But beforehand, it is a critical mission of the senior management to enhance governance beforehand. I appreciate your continued support and asking for your cooperation. Thank you very much. Next, we've like to present on the transforming Toshiba to enhance Ashihore's value, and Mr. Tuna Kawa will make presentations. Next, I'd like to explain. On our new management policy, titled as transforming Toshiba to enhance shareholders' value, the corporate executive vice president, Hatazawa, will also be presenting. And also on online, chairperson of Strategic Review Committee, Mr. Paul, will also be attending as well. Now, today, Toshiba Group has decided on its significant transformation to further read forward for the future. Let me first introduce why this is the best path forward for Toshiba and our shareholders and what it means for our business going forward. And then we would like to invite Mr. Brough to explain on the evaluation made by the strategic review committee. After that, Mr. Hedazza will talk on what the business outlook will be for the standalone companies after separation. First, about our path to unlocking the value that I'd like to explain. Now, at the Board of the Director meeting held this morning, this is what's made for Toshiba's strategic reorganization to separate the business into two businesses. As a result, there will be three standalone companies to be formulated. One is infrastructure service company. Second is device company, and the third is Toshiba. As we conclude, thus, strategic reorganization to be the best path forward for Toshiba and their stakeholders, we took into account the view of our important stakeholders and other stakeholders, as well as the business characteristics and the value chain of each of our diverse businesses. Over our history of over 140 years, Toshiba has constantly evolved to stay ahead of the times. Today's announcement is no different. Toshiba has built a portfolio of leading businesses, but in order to enhance our competitive positioning, each business needs greater flexibility to address its own market opportunities and challenges. The official names for the new companies will be announced in due course. Here is an overview of the three independent businesses. Infrastructure Service Company will consist of Toshiba Energy Systems and Solutions, Infrastructure Systems and Solutions, Building Solutions, Digital Solutions, and Battery Businesses. and become a company with the forecasted net sales of 2.1 trillion yen according to the fiscal year's forecast. Its increased focus combined with its innovative technological solutions will enable it to play a lean role in driving the transition to ringable energy to meet ambitious global carbon neutrality goals and advancing infrastructure resilience as a leading player. Thank you. Device Company will be comprised of Toshiba Electric Device and Storage Solutions Business and become a company with forecasted net sales of 870 billion yen. Its products will be, including power semiconductors, high-capacity, hard disk drives HDD for data centers, and semiconductor manufacturing equipment. It will be a global leader in supporting the evolution of social and IT infrastructure. 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May I start the presentation on transforming Toshiba to Enhanced Shihar's Rattie and FY21 Second Quarter Consortated Business Results? We are on this presentation session on online basis. From 4 to 5 o'clock, we will be presenting from our side and followed by 30 minutes question session for the members of media. The questions from analysts and investors will be accepted from 5.30 to 6 o'clock Japan time, please be aware of that. Now, we will be collecting questions via telephone conferencing system. As it informs you beforehand, the conference call system will require the pre-registration beforehand. Let me introduce the presenter today. President NCEO Satoshi Tsunakawa. Cooper Senior Executive Vice President Mamoru Hatazawa. Representative Executive Vice President NCEO Masayoshi Hirata. We have a tear percent of the strategic review committee outside Director Paul Broth. He is joining from Hong Kong online. My name is Hara of Comunications, Corporate Communication Department. We are providing simultaneous transition, so if you are watching live streaming in Japanese, you will be able to hear translation's voice. Please be aware of that. First, before going into transforming Toshiba to Enhanced Shihara's value, may I have Mr. Tunaka to say a few words upon the receipt of the report from Governor's Enhanced Management Committee today. Mr. Tunaka-la-Plead. Now, first of all, I'd like to say a few words on behalf of the company upon the report of the Governor and Assessment Committee. First off, I'd like to express profound appreciation to the members of the Governor and his committee who have made tremendous efforts and time since their appointment to investigate the root cause of the issue and raised in the Investigation Report, clarify where the response with the lights and compile recommendations for formulating the major suspend recurrence. I recognize that the Toshiba's Governor's Enforcement Committee, based on the strong belief that restructuring of the Governor's essential for the revival of the Toshiba, has compiled reports for our future. In fact, no issue of illegality was discovered according to the report of the Governor's Enforcement Committee. Having said that though, I feel as a part of the same the modesty of the company, I am extremely ashamed and embarrassed that the... The senior members of the company and their actions was concluded that an act as a whole of outlets the corporate ethics demanded by the market. We have just received a final report of the governance and health committee, but we will continue to discuss the governance seriously within the company based on the contents of the report, including recommendations for the formulation of the recurrence revisions measures. We believe that this recurrence prevention measures will form the very first step to restore the trust of the shareholders, which has been restored so far. Now one of the group's philosophy is doing the right thing. Many employees on the front lines of the operations are working day-to-day based on this value. On the other hand, I believe that some of the members of the Singapore Management were acted quite differently from this philosophy, and that should be sincerely remorced over. The corporate management is established based on the trust relationship with all stakeholders, the government assessment committee, also pointed out that the importance of top at the tone and organizational leaders demonstrating their commitment to value ethics and integrity. Until now, the culture to recognize the mistakes and very good communication, so that anyone can raise opinions escalated to the higher level, but also we need to ensure the psychological safety of all employees. We will make persistent efforts in this regard. As I will announce today, our group, the decided to separate the energy infrastructure business and storage device business sets. There will be the separate companies and aim for the IPOs, except independently. This is a drastic change, but because these business will be separated and being independent and therefore, The community and the future based on this philosophy, under the new corporate culture, each business is poised to grow and this is a great opportunity. But beforehand, it is a critical mission of the same management to enhance governance beforehand. I appreciate your continued support and asking for your cooperation. Thank you very much. Next, we invite you to present on the transforming Toshiba to enhance Ashii Horses value and Mr. Tuna Kabat will make presentations. Next, I would like to explain. On our new management policy titled \"Transferming Toshiba to Enhanced Shelders Value,\" the corporate executive vice president, Hata Zawa, will also be presenting and also online as Chairperson of Strategic Review Committee, Mr. Paul, will also be attending as well. Now today, Toshiba Group has decided on its significant transformation to further leave forward for the future. Let me first introduce why this is the best path forward for Toshiba and our shareholders and what it means for our business going forward. And then we would like to invite Mr. Braf to explain on the evaluation made by the strategic review committee. After that, Mr. Hadesal will talk on what the business outlook will be for the standalone companies after separation. about our path to unlocking the value of the Avala to explain. Now, at the Board of Direction Meeting held this morning, decision was made for Toshiba Strategic reorganization to separate the businesses into two businesses as a result. There will be three standalone companies to be formulated. One is the Infrastructure Service Company, second is the VAS Company, and the third is Toshiba. As we conclude the strategic reorganization to be the best path forward for Toshiba and their stakeholders, we took into account the view of our important stakeholders and other case stakeholders, as well as the business, characteristics and the value chain of each of our diverse businesses. Over our history of over 140 years, Toshiba has constantly evolved to stay ahead of the times. Today's announcement is no different. Toshiba has built a portfolio of leading businesses, but in order to enhance our competitive positioning, each business needs greater flexibility to address its own market opportunities and challenges. The official names for the new companies will be announced in due course. Here is an overview of the three independent businesses. Infrastructure service company will consist of Toshiba Energy Systems and Solutions, Infrastructure Systems and Solutions, Building Solutions, Digital Solutions, and Battery Businesses. and become a company with the forecasted net sales of 2.1 trillion according to the fiscal years forecast. Its increased focus combined with its innovative technological solutions will enable it to play a lean role in driving the transition to renewable energy to meet ambitious global carbon neutrality goals and advancing infrastructure resilience as a leading player. Device company will be comprised of the Toshiba Electric Device and Storage Solutions business and become a company with forecasted net sales of 870 billion yen. Its products will be including powers and conductors, high capacity, hard disk drives, HDD for data centers, and semiconductor manufacturing equipment. meant. It will be a global leader in supporting the evolution of social and IT infrastructure. Toshiba will continue to hold a company on ownership stake in Kyokshia holding cooperation and Toshiba Tech Cooperation. Koto Shiba will seek to monetize the share of Kyokshia at an appropriate timing. (water running) The separation this time enables us to better align each new company's by its unique business characteristics. Ethics of your service company really it's business focus on the direct sale of equipment and the provision of solutions to specific customers. It has long business cycles that are more heavily dependent on negotiations between business parties than the market conditions are large. In addition, it will be a capital-light business, and there are also major differences to the extent in which we conduct customized reduction. In contrast, device company primarily manufactures and sells devices such as semiconductors and other materials, its business cycles are shorter and can be impacted significantly by the market conditions. It will be a capital intensive business that requires scale of a continuous production across multiple customer orders. and we're not to be too late.","datasetDir":"earnings22-10mins","modelSizeMB":154,"device":"MacBookAir10,1","reference":"Now, it's time. May I start the presentation, uh, on transforming Toshiba to enhance shareholders' value, and FY21 second quarter consolidated business results. We are organized this presentation session on online basis. From four to five o'clock, we will be presenting from our side, and followed by 30 minutes questions session for the mend- uh, the media. The questions from allies and the investors will be accepted from 5:30 to six o'clock Japan time. Please be aware of that. Now, we will be collecting questions via telephone conferencing system. As is informed to you beforehand, the conference call system, uh, will require the pre-registration beforehand. Let me introduce the presenters today. President and CEO, Satoshi Tsunakawa. 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First off, I would like to express profound appreciation to the members of the Governor Enhancement Committee, uh, who have made tremendous efforts and time since their appointment to investigate the root cause of the issue, uh, raised in the investigation report, clarify where the responsibility lies, and compile recommendations for formulating the measures to prevent recurrence. I recognize that the Toshiba's Governance Enhancement Committee, based on the strong belief that restructuring of the governance is essential for the revival of the Toshiba, has compiled report for our future. In fact, no issue of illegality was, uh, discovered, um, according to the report of the Governor Enhancement Committee. Having said that though, I feel as a part of the senior management of the company, I am extremely ashamed and embarrassed that the, um, the, uh, senior members of the company, uh, and their actions, uh, was concluded that an act, uh, as a whole, uh, violates the corporate ethics demanded by the market. We have just received a final report of the Governance Enhance Committee that, uh, we will continue to discuss the governance seriously within the company based on the contents of the report, including recommendations for the formulation of the recurrence prevention measures. We believe that this recurrence prevention measures will form the very first step to restore the trust of the shareholders who have, which have been restored so far. Now one of the group's philosophy is, uh, doing the right think. Uh, many employees on the front lines of the operations are working, uh, day to day, uh, based on this value. On the other hand, I believe that, uh, some of the members of the senior management were acted, uh, quite, uh, differently from this mostly, and that should be, uh, sincerely remorsed over. The corporate management is established based on the trust relationship with all stakeholders. The Governance Assessment Committee also pointed out that the importance of top <inaudible> and organizational leaders demonstrating their commitment to value, ethics and integrity. Until now, um, the culture to recognize the mistakes and the very, uh, good communication so that, uh, anyone can raise opinions escalated, uh, just to the higher level. But also, uh, we need to ensure the psychological safety of all employees. Uh, we will make, um, strict, uh, persistent efforts in this regard. As I will announce today, our group decided to separate the energy infrastructure business and storage device businesses. There will be a f- uh, the separate companies, and aim for the IPOs are set independently. This is a drastic change, but because this business will be separated and being independent, and therefore, uh, the, um, committed to people and committed to the future based on this philosophy. Under the new, uh, corporate culture, each business is poised to grow, uh, and this is a great opportunity. But beforehand, uh, it is a critical, uh, mission of the senior management to enhance governance beforehand. I appreciate your continued support and asking for your cooperation. Thank you very much. Next, we'd like to, uh, present on the transforming Toshiba to enhance our shareholders' value. And, uh, Mr. Tsunakawa will m- make presentations. Next, I would like to explain on our new management policy titled as Transforming Toshiba to Enhance Shareholders' Value. Uh, the, uh, Corporate Executive Vice, uh, President Hatazawa will also, uh, be, uh, uh, presenting. And also on online, uh, Chairperson of Strategic Review Committee, Mr. J- Paul, uh, will also be attending as well. Now, uh, to- today, Toshiba Group has decided on its significant transformation to further leap forward for the future. Let me first introduce why this is the best path forward for Toshiba, uh, and our shareholders, and what it, what it means for our business going forward. And then we would like to invite Mr. Brough to explain on the evaluation made by the Strategic Review Committee. After that, Mr. Hataza will talk on what the business outlook will be for the standalone companies after separation. First, uh, about, uh, our path to unlocking the value, uh, that I'd like to explain. Now, at the Board of Director meeting held this morning, decision was made for Toshiba's strategic reorganization to separate the business into two businesses. As a result, uh, there will be three standalone companies to be, um, formulated. One an infrastructure service company, second is device company, and the third is Toshiba. As we concluded this strategic reorganization to be the best path forward for Toshiba and their stakeholders, we took into account the view of our important shareholder, stake- shareholders and other casto- stakeholders, as well as the business characteristics and the value chain of, uh, each of our diverse businesses. Over our history of over 140 years, Toshiba has constantly evolved to stay ahead of the times. Today's announcement is no different. Toshiba has built a portfolio of leading the businesses. But in order to enhance our competitive positioning, each business needs greater flexibility to address its own market opportunities and challenges. The official names for the new companies will be announced in due course. Here is an overview of the three independent businesses. 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Toshiba will continue to hold the company's on- ownership stake in Kioxia Holding Corporation and Toshiba Tec Corporation. Co- Toshiba will seek to monetize the share of Kioxia at an appropriate timing. The separation this time enables us to better align each new companies by its unique business characteristics. Infrastructure service company relate, um, business focus on the direct sale of equipment and the provision of solutions to specific customers. It has long business cycles that are more heavily dependent on negotiations between business parties than the market conditions at large. In addition, it will be a capital-light business and there are also major differences in, to the extent in which we conduct customized production. In contrast, device company primarily manufacturers and sells devices such as semiconductor's and other materials. Its business cycles are shorter and can be impacted significantly by the market conditions. 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+[{"testInfo":{"device":"MacBookAir10,1","reference":"Now, it's time. May I start the presentation, uh, on transforming Toshiba to enhance shareholders' value, and FY21 second quarter consolidated business results. We are organized this presentation session on online basis. From four to five o'clock, we will be presenting from our side, and followed by 30 minutes questions session for the mend- uh, the media. The questions from allies and the investors will be accepted from 5:30 to six o'clock Japan time. Please be aware of that. Now, we will be collecting questions via telephone conferencing system. As is informed to you beforehand, the conference call system, uh, will require the pre-registration beforehand. Let me introduce the presenters today. President and CEO, Satoshi Tsunakawa. Corporate Senior Executive Vice President, Mamoru Hatazawa. Representative Executive Officer, Corporate Executive Vice President and CFO, Masayoshi Hirata. We have, uh, Chairperson of the Strategic Review Committee Outside Director, uh, Paul Brough. He is joining from Hong Kong, uh, on- online. My name is Hara of Communications, Corporate Communication Department. We are providing simultaneous translation. So if you are watching the live, uh, str- streaming in Japanese, you will be able to hear translation's voice. Please be aware of that. First, before going into transforming Toshiba to enhance shareholders' value. May I have Mister Tsunaka to say a few words, uh, upon the receipt of the report from Governance Enhancement Committee today. Mr Tsunakawa, please. Now, first of all, uh, I would like to say a few words on behalf of the, uh, the company, uh, upon the report of the Governor Enhancement Committee. First off, I would like to express profound appreciation to the members of the Governor Enhancement Committee, uh, who have made tremendous efforts and time since their appointment to investigate the root cause of the issue, uh, raised in the investigation report, clarify where the responsibility lies, and compile recommendations for formulating the measures to prevent recurrence. I recognize that the Toshiba's Governance Enhancement Committee, based on the strong belief that restructuring of the governance is essential for the revival of the Toshiba, has compiled report for our future. In fact, no issue of illegality was, uh, discovered, um, according to the report of the Governor Enhancement Committee. Having said that though, I feel as a part of the senior management of the company, I am extremely ashamed and embarrassed that the, um, the, uh, senior members of the company, uh, and their actions, uh, was concluded that an act, uh, as a whole, uh, violates the corporate ethics demanded by the market. We have just received a final report of the Governance Enhance Committee that, uh, we will continue to discuss the governance seriously within the company based on the contents of the report, including recommendations for the formulation of the recurrence prevention measures. We believe that this recurrence prevention measures will form the very first step to restore the trust of the shareholders who have, which have been restored so far. Now one of the group's philosophy is, uh, doing the right think. Uh, many employees on the front lines of the operations are working, uh, day to day, uh, based on this value. On the other hand, I believe that, uh, some of the members of the senior management were acted, uh, quite, uh, differently from this mostly, and that should be, uh, sincerely remorsed over. The corporate management is established based on the trust relationship with all stakeholders. The Governance Assessment Committee also pointed out that the importance of top <inaudible> and organizational leaders demonstrating their commitment to value, ethics and integrity. Until now, um, the culture to recognize the mistakes and the very, uh, good communication so that, uh, anyone can raise opinions escalated, uh, just to the higher level. But also, uh, we need to ensure the psychological safety of all employees. Uh, we will make, um, strict, uh, persistent efforts in this regard. As I will announce today, our group decided to separate the energy infrastructure business and storage device businesses. There will be a f- uh, the separate companies, and aim for the IPOs are set independently. This is a drastic change, but because this business will be separated and being independent, and therefore, uh, the, um, committed to people and committed to the future based on this philosophy. Under the new, uh, corporate culture, each business is poised to grow, uh, and this is a great opportunity. But beforehand, uh, it is a critical, uh, mission of the senior management to enhance governance beforehand. I appreciate your continued support and asking for your cooperation. Thank you very much. Next, we'd like to, uh, present on the transforming Toshiba to enhance our shareholders' value. And, uh, Mr. Tsunakawa will m- make presentations. Next, I would like to explain on our new management policy titled as Transforming Toshiba to Enhance Shareholders' Value. Uh, the, uh, Corporate Executive Vice, uh, President Hatazawa will also, uh, be, uh, uh, presenting. And also on online, uh, Chairperson of Strategic Review Committee, Mr. J- Paul, uh, will also be attending as well. Now, uh, to- today, Toshiba Group has decided on its significant transformation to further leap forward for the future. Let me first introduce why this is the best path forward for Toshiba, uh, and our shareholders, and what it, what it means for our business going forward. And then we would like to invite Mr. Brough to explain on the evaluation made by the Strategic Review Committee. After that, Mr. Hataza will talk on what the business outlook will be for the standalone companies after separation. First, uh, about, uh, our path to unlocking the value, uh, that I'd like to explain. Now, at the Board of Director meeting held this morning, decision was made for Toshiba's strategic reorganization to separate the business into two businesses. As a result, uh, there will be three standalone companies to be, um, formulated. One an infrastructure service company, second is device company, and the third is Toshiba. As we concluded this strategic reorganization to be the best path forward for Toshiba and their stakeholders, we took into account the view of our important shareholder, stake- shareholders and other casto- stakeholders, as well as the business characteristics and the value chain of, uh, each of our diverse businesses. Over our history of over 140 years, Toshiba has constantly evolved to stay ahead of the times. Today's announcement is no different. Toshiba has built a portfolio of leading the businesses. But in order to enhance our competitive positioning, each business needs greater flexibility to address its own market opportunities and challenges. The official names for the new companies will be announced in due course. Here is an overview of the three independent businesses. Infrastructure service company will, uh, consist of Toshiba energy systems and solutions, infrastructure systems and solutions, building solutions, digital solutions, and battery businesses, and become a company with the forecasted net sales of 2.1 trillion yen, according to this fiscal year's forecast. Its increased focus, combined with its innovative technological solutions, will enable it to play a leading role in driving the transition to renewable energy, to meet ambitious global carbon neutrality goals, and advancing infrastructure resilience as a leading player. Device company will com- be comprised of To- Toshiba electric device and storage solutions business, and become a company with forecasted net sales of 870 billion yen. Its products will be including power, semiconductors, high-capacity hard disk drives, HDD for data centers, and semiconductor-manufacturing equipment. It will be a global leader in supporting the evolution of social and IT infrastructure. Toshiba will continue to hold the company's on- ownership stake in Kioxia Holding Corporation and Toshiba Tec Corporation. Co- Toshiba will seek to monetize the share of Kioxia at an appropriate timing. The separation this time enables us to better align each new companies by its unique business characteristics. Infrastructure service company relate, um, business focus on the direct sale of equipment and the provision of solutions to specific customers. It has long business cycles that are more heavily dependent on negotiations between business parties than the market conditions at large. In addition, it will be a capital-light business and there are also major differences in, to the extent in which we conduct customized production. In contrast, device company primarily manufacturers and sells devices such as semiconductor's and other materials. Its business cycles are shorter and can be impacted significantly by the market conditions. 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May I start the presentation on Transforming Toshiba to Enhance Your Horrors Value and FY21's second quarter consolidated business results. We are organizing this presentation on online basis. From 4 to 5 o'clock, we will be presenting from our side and followed by 30 minutes question session for the members of the media. The questions from analysts and investors will be accepted from 5.30 to 6 o'clock Japan time. Please be aware of that. Now, we will be collecting questions via telephone conferencing system. As is informed to you beforehand, the conference call system will require the pre-registration beforehand. Let me introduce the presenter today. President NCEO, Satoshi Tsunakawa. Corporate Senior Executive Vice President, Mamoru Hatazawa. Representative Jesus Officer, Corporate Executive Vice President, NCEO, Masayoshi Hirata. We have a chairperson of the Strategic Review Committee outside director, Apole Broth. He is joining from Hong Kong on online. My name is Hara of Corporate Communication Department. We are providing simultaneous transition, so if you are watching the live streaming in Japanese, you will be able to hear translation's voice. Please be aware of that. First, before going into transferring Toshiba to enhance your host value, may I have Mr. Tanaka to say a few words upon the receipt of the report from the Governance Enhancement Committee today. Mr. Senakawa, please. Now, first of all, I'd like to say a few words on behalf of the company upon the report of the Government and Assessment Committee. First off, I'd like to express profound appreciation to the members of the Government and the Minister and Committee who have made tremendous efforts and time since their appointment to investigate the root codes of the issue, and raised in the investigation report, to clarify where the response was utilized and compiled recommendations for formulating the major's revenge recurrence. I recognize that Toshiba's governance and sentiment committee based on the strong belief that restructuring of the governance is essential for the revival of the Toshiba has compiled a report for our future. In fact, no issue of illegality was discovered according to the report of the Government Enhancement Committee. Having said that, I feel as a part of the single management of the company, I am extremely ashamed and embarrassed that the... the senior members of the company and their actions was concluded that an act as a whole violates the corporate ethics demanded by the market. We have just received a final report of the governance enhanced committee, but we will continue to discuss the governance seriously within the company based on the contents of the report, including recommendations for the formulation of the recurrence prevention measures. We believe that this recurrent provincial measures will form the very first step to restore the trust of the shareholders which have been restored so far. Now one of the group's philosophy is doing the right thing. Many employees on the front lines of operations are working day to day based on this value. On the other hand, I believe that some of the members of the Single Management were acted quite differently from this policy, and that should be sincerely remorced over. The Corporate Management is established based on the trust relationship with all stakeholders. The Government Assessment Committee also pointed out that the importance of top-attaton and organizational leaders demonstrating their commitment to value ethics and integrity. Until now, the culture to recognize the mistakes and the very good communications so that anyone can raise opinions escalated at the higher level. But also, we need to ensure the psychological safety of all employees. We will make persistent efforts in this regard. As I will announce today, our group, the decided to separate the energy infrastructure, business, and storage device businesses. They will be separate companies and aim for the IPOs independently. This is a drastic change, but because these businesses will be separated and being independent. the committed to people and committed to the future based on this philosophy, under the new corporate culture, each business is poised to grow and this is a great opportunity. But beforehand, it is a critical mission of the senior management to enhance governance beforehand. I appreciate your continued support and asking for your cooperation. Thank you very much. Next, we'd like to present on the transforming Toshiba to enhance Ashihori's value and Mr. Tuna Kawa will make presentations. Next, I'd like to explain... On our new management policy titled \"A Transforming to a Shabbat to Enhance Childers Value,\" the corporate executive vice president, Hdazawa, will also be presenting, and also online, chairperson of the strategic review committee, Mr. Paul, will also be attending as well. Now, today, Toshiba Group has decided on its significant transformation to further refort for the future. Let me first introduce why this is the best path forward for Toshiba and our shareholders, and what it means for our business going forward. And then we would like to invite Mr. Braff to explain on the evaluation made by the Strategic Review Committee. After that, Mr. Hadada will talk on what the business outlook will be for the standalone companies after separation. about our path to unlocking the value that I would like to explain. Now, at the Board of Director Meeting held this morning, the decision was made for Toshiba's strategic reorganization to separate the businesses into two businesses as a result. There will be three standalone companies to be formulated. One is Insta- As we concluded, this strategic reorganization to be the best path forward for Toshiba and their stakeholders, we took into account the view of our important stakeholders and other stakeholders, as well as the business characteristics and the value chain of each of our diverse businesses. Over our history of over 140 years, Toshiba has constantly evolved to stay ahead of the times. Today's announcement is no different. Toshiba has built a portfolio of leading businesses, but in order to enhance our competitive positioning, each business needs greater flexibility to address its own market opportunities and challenges. The official names for the new companies will be announced in due course. Here is an overview of the three independent businesses. Infrastructure service company will consist of Toshiba Energy Assistance and Solutions, infrastructure systems and solutions, building solutions, digital solutions, and battery businesses. and become a company with the forecasted net sales of 2.1 trillion according to the fiscal year's forecast. Its increased focus combined with its innovative technological solutions will enable it to play a lean role in driving the transition to renewable energy to meet ambitious global carbon neutrality goals and advancing infrastructure resilience as a leading player. Device company will be comprised of the Toshiba electric device and storage solutions business, and become a company with forecasted nessals of 870 billion yen. Its products will be including powers in conductors, high-capacity, hard disk drives, HDD for data centers, and semiconductor microsensing equipment. It will be a global leader in supporting the evolution of social and IT infrastructure. Toshiba will continue to hold the companies on ownership stake in Kyokshia holding cooperation and Toshiba tech cooperation. Toshiba will seek to monetize the share of Kyokshia at an appropriate timing. [BLANK_AUDIO] The separation, this time, enables us to better align each new company by its unique business characteristics. Infrastructure service company really did business focus on the direct sale of equipment and the provision of solutions to specific customers. customers. It has long business cycles that are more heavily dependent on negotiations between business parties than the market conditions at large. In addition, it will be a capital-light business, and there are also major differences to the extent in which we conduct customized production. In contrast, device companies primarily manufactures and sells devices, such as semiconductors and other materials, its business cycles are shorter and can be impacted significantly by the market conditions. 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it's time. May I start the presentation, uh, on transforming Toshiba to enhance shareholders' value, and FY21 second quarter consolidated business results. We are organized this presentation session on online basis. From four to five o'clock, we will be presenting from our side, and followed by 30 minutes questions session for the mend- uh, the media. The questions from allies and the investors will be accepted from 5:30 to six o'clock Japan time. Please be aware of that. Now, we will be collecting questions via telephone conferencing system. As is informed to you beforehand, the conference call system, uh, will require the pre-registration beforehand. Let me introduce the presenters today. President and CEO, Satoshi Tsunakawa. Corporate Senior Executive Vice President, Mamoru Hatazawa. Representative Executive Officer, Corporate Executive Vice President and CFO, Masayoshi Hirata. We have, uh, Chairperson of the Strategic Review Committee Outside Director, uh, Paul Brough. He is joining from Hong Kong, uh, on- online. My name is Hara of Communications, Corporate Communication Department. We are providing simultaneous translation. So if you are watching the live, uh, str- streaming in Japanese, you will be able to hear translation's voice. Please be aware of that. First, before going into transforming Toshiba to enhance shareholders' value. May I have Mister Tsunaka to say a few words, uh, upon the receipt of the report from Governance Enhancement Committee today. Mr Tsunakawa, please. Now, first of all, uh, I would like to say a few words on behalf of the, uh, the company, uh, upon the report of the Governor Enhancement Committee. First off, I would like to express profound appreciation to the members of the Governor Enhancement Committee, uh, who have made tremendous efforts and time since their appointment to investigate the root cause of the issue, uh, raised in the investigation report, clarify where the responsibility lies, and compile recommendations for formulating the measures to prevent recurrence. I recognize that the Toshiba's Governance Enhancement Committee, based on the strong belief that restructuring of the governance is essential for the revival of the Toshiba, has compiled report for our future. In fact, no issue of illegality was, uh, discovered, um, according to the report of the Governor Enhancement Committee. Having said that though, I feel as a part of the senior management of the company, I am extremely ashamed and embarrassed that the, um, the, uh, senior members of the company, uh, and their actions, uh, was concluded that an act, uh, as a whole, uh, violates the corporate ethics demanded by the market. We have just received a final report of the Governance Enhance Committee that, uh, we will continue to discuss the governance seriously within the company based on the contents of the report, including recommendations for the formulation of the recurrence prevention measures. We believe that this recurrence prevention measures will form the very first step to restore the trust of the shareholders who have, which have been restored so far. Now one of the group's philosophy is, uh, doing the right think. Uh, many employees on the front lines of the operations are working, uh, day to day, uh, based on this value. On the other hand, I believe that, uh, some of the members of the senior management were acted, uh, quite, uh, differently from this mostly, and that should be, uh, sincerely remorsed over. The corporate management is established based on the trust relationship with all stakeholders. The Governance Assessment Committee also pointed out that the importance of top <inaudible> and organizational leaders demonstrating their commitment to value, ethics and integrity. Until now, um, the culture to recognize the mistakes and the very, uh, good communication so that, uh, anyone can raise opinions escalated, uh, just to the higher level. But also, uh, we need to ensure the psychological safety of all employees. Uh, we will make, um, strict, uh, persistent efforts in this regard. As I will announce today, our group decided to separate the energy infrastructure business and storage device businesses. There will be a f- uh, the separate companies, and aim for the IPOs are set independently. This is a drastic change, but because this business will be separated and being independent, and therefore, uh, the, um, committed to people and committed to the future based on this philosophy. Under the new, uh, corporate culture, each business is poised to grow, uh, and this is a great opportunity. But beforehand, uh, it is a critical, uh, mission of the senior management to enhance governance beforehand. I appreciate your continued support and asking for your cooperation. Thank you very much. Next, we'd like to, uh, present on the transforming Toshiba to enhance our shareholders' value. And, uh, Mr. Tsunakawa will m- make presentations. Next, I would like to explain on our new management policy titled as Transforming Toshiba to Enhance Shareholders' Value. Uh, the, uh, Corporate Executive Vice, uh, President Hatazawa will also, uh, be, uh, uh, presenting. And also on online, uh, Chairperson of Strategic Review Committee, Mr. J- Paul, uh, will also be attending as well. Now, uh, to- today, Toshiba Group has decided on its significant transformation to further leap forward for the future. Let me first introduce why this is the best path forward for Toshiba, uh, and our shareholders, and what it, what it means for our business going forward. And then we would like to invite Mr. Brough to explain on the evaluation made by the Strategic Review Committee. After that, Mr. Hataza will talk on what the business outlook will be for the standalone companies after separation. First, uh, about, uh, our path to unlocking the value, uh, that I'd like to explain. Now, at the Board of Director meeting held this morning, decision was made for Toshiba's strategic reorganization to separate the business into two businesses. As a result, uh, there will be three standalone companies to be, um, formulated. One an infrastructure service company, second is device company, and the third is Toshiba. As we concluded this strategic reorganization to be the best path forward for Toshiba and their stakeholders, we took into account the view of our important shareholder, stake- shareholders and other casto- stakeholders, as well as the business characteristics and the value chain of, uh, each of our diverse businesses. Over our history of over 140 years, Toshiba has constantly evolved to stay ahead of the times. Today's announcement is no different. Toshiba has built a portfolio of leading the businesses. But in order to enhance our competitive positioning, each business needs greater flexibility to address its own market opportunities and challenges. The official names for the new companies will be announced in due course. Here is an overview of the three independent businesses. Infrastructure service company will, uh, consist of Toshiba energy systems and solutions, infrastructure systems and solutions, building solutions, digital solutions, and battery businesses, and become a company with the forecasted net sales of 2.1 trillion yen, according to this fiscal year's forecast. Its increased focus, combined with its innovative technological solutions, will enable it to play a leading role in driving the transition to renewable energy, to meet ambitious global carbon neutrality goals, and advancing infrastructure resilience as a leading player. Device company will com- be comprised of To- Toshiba electric device and storage solutions business, and become a company with forecasted net sales of 870 billion yen. Its products will be including power, semiconductors, high-capacity hard disk drives, HDD for data centers, and semiconductor-manufacturing equipment. It will be a global leader in supporting the evolution of social and IT infrastructure. Toshiba will continue to hold the company's on- ownership stake in Kioxia Holding Corporation and Toshiba Tec Corporation. Co- Toshiba will seek to monetize the share of Kioxia at an appropriate timing. The separation this time enables us to better align each new companies by its unique business characteristics. Infrastructure service company relate, um, business focus on the direct sale of equipment and the provision of solutions to specific customers. It has long business cycles that are more heavily dependent on negotiations between business parties than the market conditions at large. In addition, it will be a capital-light business and there are also major differences in, to the extent in which we conduct customized production. In contrast, device company primarily manufacturers and sells devices such as semiconductor's and other materials. Its business cycles are shorter and can be impacted significantly by the market conditions. It will be a capital-intensive business that requires scale of a continuous production across multiple customer orders. And relatively.","wer":0.10178117048346055,"model":"openai_whisper-large-v2_949MB","modelSizeMB":934,"prediction":"Now it is time may I start the presentation on transforming Toshiba to enhance shareholders' value and FY21 second quarter consolidated business results. We are organizing this presentation session on an online basis. From 4 to 5 o'clock we will be presenting from our side and followed by 30 minutes question session for the members of media. The questions from analysts and investors will be accepted from 5.30 to 6 o'clock Japan time. Please be aware of that. Now we will be collecting questions via telephone conferencing system. As it is informed to you beforehand, the conference call system will require the pre-registration beforehand. Let me introduce the presenter today. President and CEO Satoshi Tsunakawa. Corporate Senior Executive Vice President Mamoru Hatazawa. Representative Executive Officer Corporate Executive Vice President and CFO Masayoshi Hirata. Thank you. My name is Hara of Corporate Communications Department. We are providing simultaneous translation, so if you are watching the live streaming in Japanese, you will be able to hear translation's voice. Please be aware of that. First, before going into transforming Toshiba to enhance Chiharu's value, may I have Mr. Tsunakawa to say a few words upon the receipt of the report from Governor's Enhancement Committee today. Mr. Tsunakawa, please. Now, first of all, I'd like to say a few words on behalf of the company upon the report of the Governor and Senate Committee. First off, I'd like to express profound appreciation to the members of the Governor and Senate Committee who have made tremendous efforts and time since their appointment to investigate the root cause of the issue raised in the investigation report, clarify where the responsibility lies, and compile recommendations for formulating the measures to prevent recurrence. I recognize that Toshiba's Governor's Enhancement Committee, based on the strong belief that restructuring of the Governor's is essential for the revival of the Toshiba, has compiled a report for our future. In fact, no issue of illegality was discovered, according to the report of the Governor's Enhancement Committee. Having said that though, I feel as a part of the senior management of the company, I am extremely ashamed and embarrassed that the... the senior members of the company and their actions was concluded that an act as a whole violates the corporate ethics demanded by the market. We have just received the final report of the governance enhanced committee but we will continue to discuss the governance seriously within the company based on the contents of the report including recommendations for the formulation of the recurrence prevention measures. We believe that this recurrence prevention measures will form the very first step to restore the trust of the shareholders which has been restored so far. Now one of the group's philosophy is doing the right thing. Many employees on the front lines of the operations are working day-to-day based on this value. On the other hand, I believe that some of the members of the senior management were acted quite differently from this policy and that should be sincerely remorsed over. The corporate management is established based on the trust relationship with all stakeholders. The Governing Assessment Committee also pointed out that the importance of top-at-the-tone and organizational leaders demonstrating their commitment to value, ethics, and integrity. Until now, the culture to recognize the mistakes and the very good communication so that anyone can raise opinions escalated to a higher level, but also we need to ensure the psychological safety of all employees. We will make persistent efforts in this regard. As I will announce today, our group... decided to separate the energy infrastructure business and storage device businesses. There will be separate companies and aim for the IPO independently. This is a drastic change, but because this business will be separated and being independent, and therefore, they're going to be able to do this. So, I think that's a good thing. I think that's a good the committed to people and committed to the future based on this philosophy under the new corporate culture. Each business is poised to grow and this is a great opportunity. But beforehand it is a critical mission of the senior management to enhance governance beforehand. I appreciate your continued support and asking for your cooperation. Thank you very much. Next, we would like to present on the transforming Toshiba to enhance Ashihoro's value and Mr.Tanakawa will make presentations. Next, I would like to explain... on our new management policy titled \"Transforming Toshiba to Enhance Shelters' Value\". The corporate executive vice president, Hata Zawa, will also be presenting and also online, chairperson of strategic review committee, Mr. Paul, will also be attending as well. Now, today Toshiba Group has decided on its significant transformation to further leap forward for the future. Let me first introduce why this is the best path forward for Toshiba and our shareholders and what it means for our business going forward. And then we would like to invite Mr. Broff to explain on the evaluation made by the Strategic Review Committee. After that Mr. Hadzada will talk on what the business outlook will be for the stand-alone companies after separation. about our path to unlocking the value that I'd like to explain. Now at the board of directors meeting held this morning, decision was made for Toshiba Strategic Reorganization to separate the business into two businesses. As a result, there will be three standalone companies to be formulated. One is infrastructure service company, second is device company, and the third is Toshiba. As we conclude this strategic reorganization to be the best path forward for Toshiba and their stakeholders, we took into account the view of our important shareholders and other case stakeholders as well as the business characteristics and the value chain of each of our diverse businesses. Over our history of over 140 years, Toshiba has constantly evolved to stay ahead of the times. Today's announcement is no different. Toshiba has built a portfolio of leading businesses, but in order to enhance our competitive positioning, each business needs greater flexibility to address its own market opportunities and challenges. The official names for the new companies will be announced in due course. Here is an overview of the three independent businesses. Infrastructure Service Company will consist of Toshiba Energy Systems and Solutions, Infrastructure Systems and Solutions, Building Solutions, Diesel Solutions, and Battery Businesses. and become a company with the forecasted net sales of 2.12 trillion yen according to this fiscal year's forecast. Its increased focus combined with its innovative technological solutions will enable it to play a lean role in driving the transition to renewable energy to meet ambitious global carbon neutrality goals and advancing infrastructure resilience as a leading player. Device Company will be comprised of Toshiba Electric Device and Storage Solutions business, and become a company with forecasted net sales of 870 billion yen. Its products will be including power semiconductors, high-capacity hard disk drives HDD for data centers, and semiconductor manufacturing equipment. It will be a global leader in supporting the evolution of social and IT infrastructure. Toshiba will continue to hold the company's ownership stake in Kyokusha Holding Corporation and Toshiba Tech Corporation. Koto-Toshiba will seek to monetize the share of Kyokusha at an appropriate timing. (chewing) The separation this time enables us to better align each new company by its unique business characteristics. Infrastructure service company, related business focus on the direct sale of equipment and the provision of solutions to specific customers. It has long business cycles that are more heavily dependent on negotiations between business parties than the market conditions at large. In addition, it will be a capital light business, and there are also major differences to the extent in which we conduct customized production. In contrast, device company primarily manufactures and sells devices such as semiconductors and other materials. Its business cycles are shorter and can be impacted significantly by the market conditions. 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May I start the presentation, uh, on transforming Toshiba to enhance shareholders' value, and FY21 second quarter consolidated business results. We are organized this presentation session on online basis. From four to five o'clock, we will be presenting from our side, and followed by 30 minutes questions session for the mend- uh, the media. The questions from allies and the investors will be accepted from 5:30 to six o'clock Japan time. Please be aware of that. Now, we will be collecting questions via telephone conferencing system. As is informed to you beforehand, the conference call system, uh, will require the pre-registration beforehand. Let me introduce the presenters today. President and CEO, Satoshi Tsunakawa. Corporate Senior Executive Vice President, Mamoru Hatazawa. Representative Executive Officer, Corporate Executive Vice President and CFO, Masayoshi Hirata. We have, uh, Chairperson of the Strategic Review Committee Outside Director, uh, Paul Brough. He is joining from Hong Kong, uh, on- online. My name is Hara of Communications, Corporate Communication Department. We are providing simultaneous translation. So if you are watching the live, uh, str- streaming in Japanese, you will be able to hear translation's voice. Please be aware of that. First, before going into transforming Toshiba to enhance shareholders' value. May I have Mister Tsunaka to say a few words, uh, upon the receipt of the report from Governance Enhancement Committee today. Mr Tsunakawa, please. Now, first of all, uh, I would like to say a few words on behalf of the, uh, the company, uh, upon the report of the Governor Enhancement Committee. First off, I would like to express profound appreciation to the members of the Governor Enhancement Committee, uh, who have made tremendous efforts and time since their appointment to investigate the root cause of the issue, uh, raised in the investigation report, clarify where the responsibility lies, and compile recommendations for formulating the measures to prevent recurrence. I recognize that the Toshiba's Governance Enhancement Committee, based on the strong belief that restructuring of the governance is essential for the revival of the Toshiba, has compiled report for our future. In fact, no issue of illegality was, uh, discovered, um, according to the report of the Governor Enhancement Committee. Having said that though, I feel as a part of the senior management of the company, I am extremely ashamed and embarrassed that the, um, the, uh, senior members of the company, uh, and their actions, uh, was concluded that an act, uh, as a whole, uh, violates the corporate ethics demanded by the market. We have just received a final report of the Governance Enhance Committee that, uh, we will continue to discuss the governance seriously within the company based on the contents of the report, including recommendations for the formulation of the recurrence prevention measures. We believe that this recurrence prevention measures will form the very first step to restore the trust of the shareholders who have, which have been restored so far. Now one of the group's philosophy is, uh, doing the right think. Uh, many employees on the front lines of the operations are working, uh, day to day, uh, based on this value. On the other hand, I believe that, uh, some of the members of the senior management were acted, uh, quite, uh, differently from this mostly, and that should be, uh, sincerely remorsed over. The corporate management is established based on the trust relationship with all stakeholders. The Governance Assessment Committee also pointed out that the importance of top <inaudible> and organizational leaders demonstrating their commitment to value, ethics and integrity. Until now, um, the culture to recognize the mistakes and the very, uh, good communication so that, uh, anyone can raise opinions escalated, uh, just to the higher level. But also, uh, we need to ensure the psychological safety of all employees. Uh, we will make, um, strict, uh, persistent efforts in this regard. As I will announce today, our group decided to separate the energy infrastructure business and storage device businesses. There will be a f- uh, the separate companies, and aim for the IPOs are set independently. This is a drastic change, but because this business will be separated and being independent, and therefore, uh, the, um, committed to people and committed to the future based on this philosophy. Under the new, uh, corporate culture, each business is poised to grow, uh, and this is a great opportunity. But beforehand, uh, it is a critical, uh, mission of the senior management to enhance governance beforehand. I appreciate your continued support and asking for your cooperation. Thank you very much. Next, we'd like to, uh, present on the transforming Toshiba to enhance our shareholders' value. And, uh, Mr. Tsunakawa will m- make presentations. Next, I would like to explain on our new management policy titled as Transforming Toshiba to Enhance Shareholders' Value. Uh, the, uh, Corporate Executive Vice, uh, President Hatazawa will also, uh, be, uh, uh, presenting. And also on online, uh, Chairperson of Strategic Review Committee, Mr. J- Paul, uh, will also be attending as well. Now, uh, to- today, Toshiba Group has decided on its significant transformation to further leap forward for the future. Let me first introduce why this is the best path forward for Toshiba, uh, and our shareholders, and what it, what it means for our business going forward. And then we would like to invite Mr. Brough to explain on the evaluation made by the Strategic Review Committee. After that, Mr. Hataza will talk on what the business outlook will be for the standalone companies after separation. First, uh, about, uh, our path to unlocking the value, uh, that I'd like to explain. Now, at the Board of Director meeting held this morning, decision was made for Toshiba's strategic reorganization to separate the business into two businesses. As a result, uh, there will be three standalone companies to be, um, formulated. One an infrastructure service company, second is device company, and the third is Toshiba. As we concluded this strategic reorganization to be the best path forward for Toshiba and their stakeholders, we took into account the view of our important shareholder, stake- shareholders and other casto- stakeholders, as well as the business characteristics and the value chain of, uh, each of our diverse businesses. Over our history of over 140 years, Toshiba has constantly evolved to stay ahead of the times. Today's announcement is no different. Toshiba has built a portfolio of leading the businesses. But in order to enhance our competitive positioning, each business needs greater flexibility to address its own market opportunities and challenges. The official names for the new companies will be announced in due course. Here is an overview of the three independent businesses. Infrastructure service company will, uh, consist of Toshiba energy systems and solutions, infrastructure systems and solutions, building solutions, digital solutions, and battery businesses, and become a company with the forecasted net sales of 2.1 trillion yen, according to this fiscal year's forecast. Its increased focus, combined with its innovative technological solutions, will enable it to play a leading role in driving the transition to renewable energy, to meet ambitious global carbon neutrality goals, and advancing infrastructure resilience as a leading player. Device company will com- be comprised of To- Toshiba electric device and storage solutions business, and become a company with forecasted net sales of 870 billion yen. Its products will be including power, semiconductors, high-capacity hard disk drives, HDD for data centers, and semiconductor-manufacturing equipment. It will be a global leader in supporting the evolution of social and IT infrastructure. Toshiba will continue to hold the company's on- ownership stake in Kioxia Holding Corporation and Toshiba Tec Corporation. Co- Toshiba will seek to monetize the share of Kioxia at an appropriate timing. The separation this time enables us to better align each new companies by its unique business characteristics. Infrastructure service company relate, um, business focus on the direct sale of equipment and the provision of solutions to specific customers. It has long business cycles that are more heavily dependent on negotiations between business parties than the market conditions at large. In addition, it will be a capital-light business and there are also major differences in, to the extent in which we conduct customized production. In contrast, device company primarily manufacturers and sells devices such as semiconductor's and other materials. Its business cycles are shorter and can be impacted significantly by the market conditions. It will be a capital-intensive business that requires scale of a continuous production across multiple customer orders. And relatively.","prediction":"Now, it's time. May I start the presentation on transforming Toshiba to enhance shareholders' value and FY21 second quarter consolidated business results. We are organizing this presentation session on an online basis. From 4 to 5 o'clock, we will be presenting from our side and followed by 30 minutes question session for the media. The questions from analysts and investors will be accepted from 5:30 to 6:00 Japan time. Please be aware of that. Now, we will be collecting questions via telephone conferencing system. As is informed to you beforehand, the conference call system will require the pre-registration beforehand. Let me introduce the presenter today. President and CEO Satoshi Tsunakawa. Corporate Senior Executive Vice President Mamoru Hatazawa. Representative Executive Officer, Corporate Executive Vice President and CFO Masayoshi Hirata. We have a chairperson of the strategic review committee outside director, Paul Broff, who is joining from Hong Kong online. My name is Hara of Communications, Corporate Communication Department. We are providing simultaneous transition, so if you are watching the live streaming in Japanese, you will be able to hear translation's voice. Please be aware of that. First, before going into transforming Toshiba to enhance Shihara's value, may I have Mr. Tanaka to say a few words upon the receipt of the report from Governance Enhancement Committee today. Mr. Tanaka, please. Now, first of all, I'd like to say a few words on behalf of the company upon the report of the Governor and Senesman Committee. First off, I'd like to express profound appreciation to the members of the Governor and Senesman Committee, who have made tremendous efforts and time since their appointment to investigate the root cause of the issue and raised in the investigation report, clarify where the responsibility lies and compile recommendations for formulating the measures of recurrence. I recognize that Toshiba's Government Enhancement Committee, based on the strong belief that restructuring of the governance is essential for the revival of the Toshiba, has compiled a report for our future. In fact, no issue of illegality was discovered according to the report of the Government Enhancement Committee. Having said that though, I feel as a part of the senior management of the company, I am extremely ashamed and embarrassed that the government's enforcement, The senior members of the company and their actions was concluded that an act as a whole violates the corporate ethics demanded by the market. We have just received a final report of the governance enhanced committee, but we will continue to discuss the governance seriously within the company based on the contents of the report, including recommendations for the formulation of the recurrence provincial medias. We believe that this recurrence provincial measures will form the very first step to restore the trust of the shareholders, which has been restored so far. Now, one of the group's philosophy is doing the right thing. Many employees on the front lines of operations are working day to day based on this value. On the other hand, I believe that some of the members of the senior management were acted quite differently from this policy and that should be sincerely remorsed over. The corporate management is established based on the trust relationship with all stakeholders. The Governor Assessment Committee also pointed out that the importance of top at the tone and organizational leaders demonstrating their commitment to value, ethics, and integrity. Until now, the culture to recognize the mistakes and the very good communication so that anyone can raise opinions escalated to a higher level. But also, we need to ensure the psychological safety of all employees. We will make persistent efforts in this regard. As I will announce today, our group... decided to separate the energy infrastructure business and storage device business sets. They will be separate companies and aim for the IPOs independently. This is a drastic change, but because these businesses will be separated and being independent, and therefore – the committed to people and committed to the future. Based on this philosophy, under the new corporate culture, each business is poised to grow, and this is a great opportunity. But beforehand, it is a critical mission of the senior management to enhance governance beforehand. I appreciate your continued support and asking for your cooperation. Thank you very much. Next, we'd like to present on the transforming Toshiba to enhance a shareholder's value and Mr. Tonakawa will make presentations. Next, I'd like to explain... On our new management policy titled Transforming Toshiba to Enhance Children's Value, the Corporate Executive Vice President Hatazawa will also be presenting and also online, Chairperson of Strategic Review Committee, Mr. Paul, will also be attending as well. Now, today, Toshiba Group has decided on its significant transformation to further leap forward for the future. Let me first introduce why this is the best path forward for Toshiba and our shareholders and what it means for our business going forward. And then we would like to invite Mr. Broff to explain on the evaluation made by the Strategy Review Committee. After that, Mr. Hadza will talk on what the business outlook will be for the standalone companies after separation. First, about our path to unlocking the value that I'd like to explain. Now, at the board of the election meeting held this morning, the decision was made for Toshiba's strategic reorganization to separate the business into two businesses. As a result, there will be three standalone companies to be formulated. One is infrastructure service company, second is device company, and the third is Toshiba. As we conclude this strategic reorganization to be the best path forward for Toshiba and their stakeholders, we took into account the view of our important stakeholders and other stakeholders, as well as the business characteristics and the value chain of each of our diverse businesses. Over our history of over 140 years, Toshiba has constantly evolved to stay ahead of the times. Today's announcement is no different. Toshiba has built a portfolio of leading businesses, but in order to enhance our competitive positioning, each business needs greater flexibility to address its own market opportunities and challenges. The official names for the new companies will be announced in due course. Here is an overview of the three independent businesses. Infrastructure service company consist of Toshiba Energy Systems and Solutions, Infrastructure Systems and Solutions, Building Solutions, Digital Solutions, and Battery Businesses. and become a company with the forecasted net sales of 2.13 yen according to this fiscal year's forecast. Its increased focus combined with its innovative technological solutions will enable it to play a leading role in driving the transition to renewable energy to meet ambitious global carbon neutrality goals and advancing infrastructure resilience as a leading player. Device Company will be comprised of the Toshiba electric device and storage solutions business and become a company with forecasted net sales of 870 billion yen. Its products will be including power semiconductors, high-capacity hard disk drives, HDD for data centers, and semiconductor manufacturing equipment. It will be a global leader in supporting the evolution of social and IT infrastructure. Toshiba will continue to hold the company's ownership stake in Kyokushia Holding Corporation and Toshiba Tech Corporation. Ko Toshiba will seek to monetize the share of Kyokushia at an appropriate timing. Thank you. The separation this time enables us to better align each new company by its unique business characteristics. Infrastructure service company related business focus on the direct sale of equipment and the provision of solutions to specific customers. It has long business cycles that are more heavily dependent on negotiations between business parties than the market conditions at large. In addition, it will be a capital-light business, and there are also major differences to the extent in which we conduct customized production. In contrast, device company primarily manufactures and sells devices such as semiconductors and other materials. Its business cycles are shorter and can be impacted significantly by the market conditions. 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it's time. May I start the presentation, uh, on transforming Toshiba to enhance shareholders' value, and FY21 second quarter consolidated business results. We are organized this presentation session on online basis. From four to five o'clock, we will be presenting from our side, and followed by 30 minutes questions session for the mend- uh, the media. The questions from allies and the investors will be accepted from 5:30 to six o'clock Japan time. Please be aware of that. Now, we will be collecting questions via telephone conferencing system. As is informed to you beforehand, the conference call system, uh, will require the pre-registration beforehand. Let me introduce the presenters today. President and CEO, Satoshi Tsunakawa. Corporate Senior Executive Vice President, Mamoru Hatazawa. Representative Executive Officer, Corporate Executive Vice President and CFO, Masayoshi Hirata. We have, uh, Chairperson of the Strategic Review Committee Outside Director, uh, Paul Brough. He is joining from Hong Kong, uh, on- online. My name is Hara of Communications, Corporate Communication Department. We are providing simultaneous translation. So if you are watching the live, uh, str- streaming in Japanese, you will be able to hear translation's voice. Please be aware of that. First, before going into transforming Toshiba to enhance shareholders' value. May I have Mister Tsunaka to say a few words, uh, upon the receipt of the report from Governance Enhancement Committee today. Mr Tsunakawa, please. Now, first of all, uh, I would like to say a few words on behalf of the, uh, the company, uh, upon the report of the Governor Enhancement Committee. First off, I would like to express profound appreciation to the members of the Governor Enhancement Committee, uh, who have made tremendous efforts and time since their appointment to investigate the root cause of the issue, uh, raised in the investigation report, clarify where the responsibility lies, and compile recommendations for formulating the measures to prevent recurrence. I recognize that the Toshiba's Governance Enhancement Committee, based on the strong belief that restructuring of the governance is essential for the revival of the Toshiba, has compiled report for our future. In fact, no issue of illegality was, uh, discovered, um, according to the report of the Governor Enhancement Committee. Having said that though, I feel as a part of the senior management of the company, I am extremely ashamed and embarrassed that the, um, the, uh, senior members of the company, uh, and their actions, uh, was concluded that an act, uh, as a whole, uh, violates the corporate ethics demanded by the market. We have just received a final report of the Governance Enhance Committee that, uh, we will continue to discuss the governance seriously within the company based on the contents of the report, including recommendations for the formulation of the recurrence prevention measures. We believe that this recurrence prevention measures will form the very first step to restore the trust of the shareholders who have, which have been restored so far. Now one of the group's philosophy is, uh, doing the right think. Uh, many employees on the front lines of the operations are working, uh, day to day, uh, based on this value. On the other hand, I believe that, uh, some of the members of the senior management were acted, uh, quite, uh, differently from this mostly, and that should be, uh, sincerely remorsed over. The corporate management is established based on the trust relationship with all stakeholders. The Governance Assessment Committee also pointed out that the importance of top <inaudible> and organizational leaders demonstrating their commitment to value, ethics and integrity. Until now, um, the culture to recognize the mistakes and the very, uh, good communication so that, uh, anyone can raise opinions escalated, uh, just to the higher level. But also, uh, we need to ensure the psychological safety of all employees. Uh, we will make, um, strict, uh, persistent efforts in this regard. As I will announce today, our group decided to separate the energy infrastructure business and storage device businesses. There will be a f- uh, the separate companies, and aim for the IPOs are set independently. This is a drastic change, but because this business will be separated and being independent, and therefore, uh, the, um, committed to people and committed to the future based on this philosophy. Under the new, uh, corporate culture, each business is poised to grow, uh, and this is a great opportunity. But beforehand, uh, it is a critical, uh, mission of the senior management to enhance governance beforehand. I appreciate your continued support and asking for your cooperation. Thank you very much. Next, we'd like to, uh, present on the transforming Toshiba to enhance our shareholders' value. And, uh, Mr. Tsunakawa will m- make presentations. Next, I would like to explain on our new management policy titled as Transforming Toshiba to Enhance Shareholders' Value. Uh, the, uh, Corporate Executive Vice, uh, President Hatazawa will also, uh, be, uh, uh, presenting. And also on online, uh, Chairperson of Strategic Review Committee, Mr. J- Paul, uh, will also be attending as well. Now, uh, to- today, Toshiba Group has decided on its significant transformation to further leap forward for the future. Let me first introduce why this is the best path forward for Toshiba, uh, and our shareholders, and what it, what it means for our business going forward. And then we would like to invite Mr. Brough to explain on the evaluation made by the Strategic Review Committee. After that, Mr. Hataza will talk on what the business outlook will be for the standalone companies after separation. First, uh, about, uh, our path to unlocking the value, uh, that I'd like to explain. Now, at the Board of Director meeting held this morning, decision was made for Toshiba's strategic reorganization to separate the business into two businesses. As a result, uh, there will be three standalone companies to be, um, formulated. One an infrastructure service company, second is device company, and the third is Toshiba. As we concluded this strategic reorganization to be the best path forward for Toshiba and their stakeholders, we took into account the view of our important shareholder, stake- shareholders and other casto- stakeholders, as well as the business characteristics and the value chain of, uh, each of our diverse businesses. Over our history of over 140 years, Toshiba has constantly evolved to stay ahead of the times. Today's announcement is no different. Toshiba has built a portfolio of leading the businesses. But in order to enhance our competitive positioning, each business needs greater flexibility to address its own market opportunities and challenges. The official names for the new companies will be announced in due course. Here is an overview of the three independent businesses. Infrastructure service company will, uh, consist of Toshiba energy systems and solutions, infrastructure systems and solutions, building solutions, digital solutions, and battery businesses, and become a company with the forecasted net sales of 2.1 trillion yen, according to this fiscal year's forecast. Its increased focus, combined with its innovative technological solutions, will enable it to play a leading role in driving the transition to renewable energy, to meet ambitious global carbon neutrality goals, and advancing infrastructure resilience as a leading player. Device company will com- be comprised of To- Toshiba electric device and storage solutions business, and become a company with forecasted net sales of 870 billion yen. Its products will be including power, semiconductors, high-capacity hard disk drives, HDD for data centers, and semiconductor-manufacturing equipment. It will be a global leader in supporting the evolution of social and IT infrastructure. Toshiba will continue to hold the company's on- ownership stake in Kioxia Holding Corporation and Toshiba Tec Corporation. Co- Toshiba will seek to monetize the share of Kioxia at an appropriate timing. The separation this time enables us to better align each new companies by its unique business characteristics. Infrastructure service company relate, um, business focus on the direct sale of equipment and the provision of solutions to specific customers. It has long business cycles that are more heavily dependent on negotiations between business parties than the market conditions at large. In addition, it will be a capital-light business and there are also major differences in, to the extent in which we conduct customized production. In contrast, device company primarily manufacturers and sells devices such as semiconductor's and other materials. Its business cycles are shorter and can be impacted significantly by the market conditions. It will be a capital-intensive business that requires scale of a continuous production across multiple customer orders. 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May I start the presentation on Transforming Toshiba to Enhance Shares Value and FY21 Second Quarter Consolidated Business Results? We are organizing this presentation session on an online basis. From 4 to 5 o'clock, we will be presenting from our side and followed by 30-minute question session for the members of the media. The questions from analysts and investors will be accepted from 5.30 to 6 o'clock Japan time. Please be aware of that. Now, we will be collecting questions via telephone conferencing system. As is informed to you beforehand, the conference call system will require the pre-registration beforehand. Let me introduce the presenter today, President and CEO, Satoshi Tsunakawa. Corporate Senior Executive Vice President, Mamoru Hatazawa. Representative Executive Officer, Corporate Executive Vice President and CFO, Masayoshi Hirata. Thank you. My name is Hara of Corporate Communications Department. We are providing simultaneous translation, so if you are watching the live streaming in Japanese, you will be able to hear translation voice. Please be aware of that. First, before going into transforming Toshiba to enhance Hara's value, may I have Mr. Tsunaka to say a few words upon the receipt of the report from Governance Enhancement Committee today. Mr. Tsunaka, please. Now, first of all, I'd like to say a few words on behalf of the company upon the report of the Governance Enhancement Committee. First off, I'd like to express profound appreciation to the members of the Governance Enhancement Committee who have made tremendous efforts in time since their appointment to investigate the root cause of the issue raised in the investigation report, clarify where the responsibility lies, and compile recommendations for formulating the measures to prevent recurrence. I recognize that the Toshiba's governance enhancement committee, based on the strong belief that restructuring of the governance is essential for the revival of the Toshiba, has compiled a report for our future. In fact, no issue of illegality was discovered according to the report of the governance enhancement committee. Having said that, though, I feel as a part of the senior management of the company, I am extremely ashamed and embarrassed that the... The senior members of the company and their actions was concluded that an act as a whole violates the corporate ethics demanded by the market. We have just received the final report of the governance and health committee, but we will continue to discuss the governance seriously within the company based on the contents of the report, including recommendations for the formulation of the recurrence prevention measures. We believe that this recurrence prevention measures will form the very first step to restore the trust of the shareholders which has been restored so far. Now, one of the groups' philosophy is doing the right thing. Many employees on the front lines of the operations are working day to day based on this value. On the other hand, I believe that some of the members of the senior management were acted quite differently from this policy and that should be sincerely remorse over. The corporate management is established based on the trust relationship with all stakeholders. The Government Assessment Committee also pointed out that the importance of top-up at the tone and organizational leaders demonstrating their commitment to value, ethics, and integrity. Until now, the culture to recognize the mistakes and the very good communication so that anyone can raise opinions escalated to a higher level. But also, we need to ensure the psychological safety of all employees. We will make persistent efforts in this regard. As I will announce today, our group... Thank you very much. The committee to people and committee to the future based on this philosophy under the new corporate culture, each business is poised to grow and this is a great opportunity. But beforehand, it is a critical mission of the senior management to enhance governance beforehand. I appreciate your continued support and asking for your cooperation. Thank you very much. Next, we'd like to present on the transforming Toshiba to enhance Ashiho's value, and Mr. Tonakawa will make presentations. Next, I'd like to explain... On our new management policy titled Transforming Toshiba to Enhance Shelders' Value, the corporate executive vice president, Hatazawa, will also be presenting. And also on online, chairperson of strategic review committee, Mr. Paul, will also be attending as well. Now, today, Toshiba Group has decided on its significant transformation to further leap forward for the future. Let me first introduce why this is the best path forward for Toshiba and our shareholders, and what it means for our business going forward. And then, we would like to invite Mr. Brough to explain on the evaluation made by the strategic review committee. After that, Mr. Hadada will talk on what the business outlook will be for the standalone companies after separation. First, about our path to unlocking the value that I'd like to explain. Now, at the Board of Director meeting held this morning, the decision was made for Toshiba's strategic reorganization to separate the business into two businesses. As a result, there will be three standalone companies to be formulated. One is infrastructure service company, second is device company, and the third is Toshiba. As we conclude that this strategic reorganization to be the best path forward for Toshiba and their stakeholders, we took into account the view of our important stakeholders and other PISO stakeholders, as well as the business characteristics and the value chain of each of our diverse businesses. Thank you. Over our history of over 140 years, Toshiba has constantly evolved to stay ahead of the times. Today's announcement is no different. Toshiba has built a portfolio of leading businesses, but in order to enhance our competitive positioning, each business needs greater flexibility to address its own market opportunities and challenges. The official names for the new companies will be announced in due course. Here is an overview of the three independent businesses. Infrastructure service company will consist of Toshiba Energy Systems and Solutions, Infrastructure Systems and Solutions, Building Solutions, Digital Solutions, and Battery Businesses. and become a company with the forecasted net sales of 2.1 trillion yen according to the fiscal year's forecast. Its increased focus combined with its innovative technological solutions will enable it to play a leading role in driving the transition to renewable energy to meet ambitious global carbon neutrality goals and advancing infrastructure resilience as a leading player. Device company will be comprised of Toshiba Electric Device and Storage Solutions business and become a company with forecasted net sales of 870 billion yen. Its products will be including power semiconductors, high-capacity hard disk drives HDD for data centers, and semiconductor manufacturing equipment. Thank you. It will be a global leader in supporting the evolution of social and IT infrastructure. Toshiba will continue to hold the company's ownership stake in Kyoksha Holding Corporation and Toshiba Tech Corporation. Ko Toshiba will seek to monetize the share of Kyoksha at an appropriate timing. Thank you. The separation this time enables us to better align each new company by its unique business characteristics. Info-Sectural Service Company: Related business focus on the direct sale of equipment and the provision of solutions to specific customers. It has long business cycles that are more heavily dependent on negotiations between business parties than the market conditions at large. In addition, it will be a capital-light business, and there are also major differences to the extent in which we conduct customized production. In contrast, device companies primarily manufacture and sell devices such as semiconductors and other materials. Its business cycles are shorter and can be impacted significantly by the market conditions. 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May I start the presentation on Transpairming Toshiba to Enhance Shares Value and FY21 Second Quarter Consolidated Business Results. We are organizing this presentation session on online basis. From 4 to 5 o'clock, we will be presenting from our side and followed by 30 minutes. Question session for the MNDA. The questions from analysts and investors will be accepted from 5.30 to 6.00 o'clock Japan time. Please be aware of that. Now, we will be collecting questions via telephone conferencing system. As it is informed to you beforehand, the conference call system will require the pre-registration beforehand. Let me introduce the presenter today, President NCEO Satoshi Tsunakawa, Corporate Senior Executive Vice President Mamoru Hatazawa, Representative Executive Officer, Corporate Executive Vice President NCEO Masayoshi Hirata. We have a chairperson of the strategic review committee outside director, Paul Broff, who is joining from Hong Kong online. My name is Harah of the Corporate Communication Department. We are providing simultaneous transition, so if you are watching live streaming in Japanese, you will be able to hear translation's voice. Please be aware of that. First, before going into transforming Toshiba to enhance Shahara's value, may I have Mr. Tanaka to say a few words upon the receipt of the report from the Governors Enhancement Committee today. Mr. Tsukakawa please. Now, first of all, I'd like to say a few words on behalf of the company upon the report of the Governor's Ensenth Assessment Committee. First off, I'd like to express profound appreciation to the members of the Governor's Ensenth Assessment Committee who have made tremendous efforts and time since their appointment to investigate the root cause of this issue and raised in the investigation report, report, clarify where the responsibility lies, and compile recommendations for formulating the measures to prevent recurrence. I recognize that the Toshiba's Governance Enhancement Committee, based on the strong belief that restructuring of the governance is essential for the revival of the Toshiba, has compiled reports for our future. In fact, no issue of illegality was discovered according to the report of the Government Enhancement Committee. Having said that though, I feel as a part of the senior management of the company, I am extremely ashamed and embarrassed that the... the senior members of the company and their actions was concluded that an act as a whole avowles the corporate ethics demanded by the market. We have just received a final report of the Governor's Enhanced Committee, but we will continue to discuss the Governor's seriously within the company based on the contents of the report, including recommendations for the affirmation of the recurrence prevention measures. We believe that this recurrence prevention measures will form the very first step to restore the trust of the Sheohodos, which has been restored so far. Now, one of the groups philosophy is doing the right thing. Many employees on the front lines of the operations are working day-to-day based on this value. On the other hand, I believe that some of the members of the senior management were acted quite differently from this policy, and that should be sincerely remorse over. The corporate management is established based on the trust relationship with all stakeholders. The government assessment committee also pointed out that the importance of top at the tone and organizational leaders demonstrating their commitment to value, ethics and integrity. Until now, the culture to recognize the mistakes and the very good communication so that anyone can raise opinions escalated to a higher level. But also, we need to ensure the psychological safety of all employees. We will make persistent efforts in this regard. As I will announce today, our group is now in the center of the United States. decided to separate the energy infrastructure businesses and storage device businesses. There will be the separate companies and aim for the IPOs independently. This is a drastic change, but because these businesses will be separated and being independent and therefore, The committed to people and committed to the future based on this philosophy under the new corporate culture, each business is poised to grow and this is a great opportunity. But beforehand, it is a critical mission of the senior management to enhance governance beforehand. I appreciate your continued support and asking for your cooperation. Thank you very much. Next, we'd like to present on the transforming Toshiba to enhance Ashihara's value, and Mr. Tuna Kawabawa will make presentations. Next, I'd like to explain. on our new management policy titled \"Transforming Toshiba to Enhance Shadows Value.\" The corporate executive vice president, Hatazawa, will also be presenting and also online. Chairperson of the Strategic Review Committee, Mr. Paul, will also be attending as well. Now, today, Toshiba Grip has decided on its significant transformation to further leave forward for the future. Let me first introduce why this is the best path forward for Toshiba and our shareholders and what it means for our business going forward. And then we would like to invite Mr. Brauf to explain on the evaluation made by the Stradict Review Committee. After that, Mr. Hadazah will talk on what the business outlook will be for the standalone companies after separation. about our path to unlocking the value that I'd like to explain. Now, at the Board of Directorate Meeting held this morning, the decision was made for Toshiba strategic reorganization to separate the business into two businesses as a result. There will be three standalone companies to be formulated. One is infrastructure service company, second is device company, and the third is Toshiba. As we concluded, this strategic reorganization to be the best path forward for Toshiba and their stakeholders, we took into account the view of our important stakeholders and other case stakeholders, as well as the business characteristics and the value chain of each of our diverse businesses. Over our history of over 140 years, Toshiba has constantly evolved to stay ahead of the times. Today's announcement is no different. Toshiba has built a portfolio of leading businesses, but in order to enhance our competitive positioning, each business needs greater flexibility to address its own market opportunities and challenges. The official names for the new companies will be announced in due course. Here is an overview of the three independent businesses. Infrastructure Service Company both consist of Toshiba Energy Systems and Solutions, Infrastructure Systems and Solutions, Building Solutions, Digital Solutions, and Battery Businesses. and become a company with the forecasted net sales of 2.1 trillion according to the fiscal year's forecast. Its increased focus combined with its innovative technological solutions will enable it to play a lean role in driving the transition to renewable energy to meet ambitious global carbon neutrality goals and advancing infrastructure resilience as a leading player. Device company will be comprised of Toshiba Electric Device and Storage Solutions business and become a company with forecasted net sales of 870 billion yen. Its products will be including power semiconductors, high capacity hard disk drives, HDDA for data centers, and semiconductor manufacturing equipment. Thank you. It will be a global leader in supporting the evolution of social and IT infrastructure. Toshiba will continue to hold the companies ownership stake in Kyokusha Holding Cooperation and Toshiba Tech Cooperation. Koutoshiba will seek to monetize the share of Kyokusha at an appropriate timing. [BLANK_AUDIO] The separation this time enables us to better align each new company by its unique business characteristics. InfoSuction Service Company really did business focus on the direct sale of equipment and the provision of solutions to specific customers. It has long business cycles that are more heavily dependent on negotiations between business parties than the market conditions at large. In addition, it will be a capital-light business, and there are also major differences to the extent in which we conduct customized production. In contrast, device companies primarily manufacture and sell devices such as semiconductors and other materials. Its business cycles are shorter and can be impacted significantly by the market conditions. It will be a capital intensive business that requires scale of continuous production across multiple customer orders. and we ought to be safe.","audioFile":"4469669-10.mp3","timings":{"totalDecodingWindows":34,"decodingLoop":102.52589058876038,"totalTimestampAlignmentRuns":0,"fullPipeline":30.091602087020874,"decodingPredictions":84.38064813613892,"encoderSpecializationTime":0,"decodingFallback":0,"encoding":8.134742259979248,"logmels":0.8321570158004761,"firstTokenTime":751620435.067653,"totalLogmelRuns":34,"decodingFiltering":0.03277742862701416,"decoderSpecializationTime":0,"prefill":0.0003408193588256836,"decodingWordTimestamps":0,"encoderLoadTime":0.31670594215393066,"inputAudioSeconds":600.0064999999998,"decodingNonPrediction":9.070475459098816,"modelLoading":1.3186640739440918,"decodingInit":0.14865148067474365,"audioLoading":16.099182844161987,"audioProcessing":0.008386015892028809,"totalEncodingRuns":34,"prewarmLoadTime":0.5568860769271851,"totalAudioProcessingRuns":34,"decodingSampling":1.2599377632141113,"pipelineStart":751620434.214536,"decodingKvCaching":2.827414631843567,"tokenizerLoadTime":0.26654505729675293,"decoderLoadTime":0.16015899181365967,"decodingWindowing":0.007492542266845703,"totalDecodingFallbacks":0,"totalDecodingLoops":1952,"totalKVUpdateRuns":1918},"modelSizeMB":483,"date":"2024-10-26T07:27:13Z","timeElapsedInSeconds":30.77649199962616,"datasetRepo":"argmaxinc\/whisperkit-test-data","device":"MacBookAir10,1","reference":"Now, it's time. May I start the presentation, uh, on transforming Toshiba to enhance shareholders' value, and FY21 second quarter consolidated business results. We are organized this presentation session on online basis. From four to five o'clock, we will be presenting from our side, and followed by 30 minutes questions session for the mend- uh, the media. The questions from allies and the investors will be accepted from 5:30 to six o'clock Japan time. Please be aware of that. Now, we will be collecting questions via telephone conferencing system. As is informed to you beforehand, the conference call system, uh, will require the pre-registration beforehand. Let me introduce the presenters today. President and CEO, Satoshi Tsunakawa. Corporate Senior Executive Vice President, Mamoru Hatazawa. Representative Executive Officer, Corporate Executive Vice President and CFO, Masayoshi Hirata. We have, uh, Chairperson of the Strategic Review Committee Outside Director, uh, Paul Brough. He is joining from Hong Kong, uh, on- online. My name is Hara of Communications, Corporate Communication Department. We are providing simultaneous translation. So if you are watching the live, uh, str- streaming in Japanese, you will be able to hear translation's voice. Please be aware of that. First, before going into transforming Toshiba to enhance shareholders' value. May I have Mister Tsunaka to say a few words, uh, upon the receipt of the report from Governance Enhancement Committee today. Mr Tsunakawa, please. Now, first of all, uh, I would like to say a few words on behalf of the, uh, the company, uh, upon the report of the Governor Enhancement Committee. First off, I would like to express profound appreciation to the members of the Governor Enhancement Committee, uh, who have made tremendous efforts and time since their appointment to investigate the root cause of the issue, uh, raised in the investigation report, clarify where the responsibility lies, and compile recommendations for formulating the measures to prevent recurrence. I recognize that the Toshiba's Governance Enhancement Committee, based on the strong belief that restructuring of the governance is essential for the revival of the Toshiba, has compiled report for our future. In fact, no issue of illegality was, uh, discovered, um, according to the report of the Governor Enhancement Committee. Having said that though, I feel as a part of the senior management of the company, I am extremely ashamed and embarrassed that the, um, the, uh, senior members of the company, uh, and their actions, uh, was concluded that an act, uh, as a whole, uh, violates the corporate ethics demanded by the market. We have just received a final report of the Governance Enhance Committee that, uh, we will continue to discuss the governance seriously within the company based on the contents of the report, including recommendations for the formulation of the recurrence prevention measures. We believe that this recurrence prevention measures will form the very first step to restore the trust of the shareholders who have, which have been restored so far. Now one of the group's philosophy is, uh, doing the right think. Uh, many employees on the front lines of the operations are working, uh, day to day, uh, based on this value. On the other hand, I believe that, uh, some of the members of the senior management were acted, uh, quite, uh, differently from this mostly, and that should be, uh, sincerely remorsed over. The corporate management is established based on the trust relationship with all stakeholders. The Governance Assessment Committee also pointed out that the importance of top <inaudible> and organizational leaders demonstrating their commitment to value, ethics and integrity. Until now, um, the culture to recognize the mistakes and the very, uh, good communication so that, uh, anyone can raise opinions escalated, uh, just to the higher level. But also, uh, we need to ensure the psychological safety of all employees. Uh, we will make, um, strict, uh, persistent efforts in this regard. As I will announce today, our group decided to separate the energy infrastructure business and storage device businesses. There will be a f- uh, the separate companies, and aim for the IPOs are set independently. This is a drastic change, but because this business will be separated and being independent, and therefore, uh, the, um, committed to people and committed to the future based on this philosophy. Under the new, uh, corporate culture, each business is poised to grow, uh, and this is a great opportunity. But beforehand, uh, it is a critical, uh, mission of the senior management to enhance governance beforehand. I appreciate your continued support and asking for your cooperation. Thank you very much. Next, we'd like to, uh, present on the transforming Toshiba to enhance our shareholders' value. And, uh, Mr. Tsunakawa will m- make presentations. Next, I would like to explain on our new management policy titled as Transforming Toshiba to Enhance Shareholders' Value. Uh, the, uh, Corporate Executive Vice, uh, President Hatazawa will also, uh, be, uh, uh, presenting. And also on online, uh, Chairperson of Strategic Review Committee, Mr. J- Paul, uh, will also be attending as well. Now, uh, to- today, Toshiba Group has decided on its significant transformation to further leap forward for the future. Let me first introduce why this is the best path forward for Toshiba, uh, and our shareholders, and what it, what it means for our business going forward. And then we would like to invite Mr. Brough to explain on the evaluation made by the Strategic Review Committee. After that, Mr. Hataza will talk on what the business outlook will be for the standalone companies after separation. First, uh, about, uh, our path to unlocking the value, uh, that I'd like to explain. Now, at the Board of Director meeting held this morning, decision was made for Toshiba's strategic reorganization to separate the business into two businesses. As a result, uh, there will be three standalone companies to be, um, formulated. One an infrastructure service company, second is device company, and the third is Toshiba. As we concluded this strategic reorganization to be the best path forward for Toshiba and their stakeholders, we took into account the view of our important shareholder, stake- shareholders and other casto- stakeholders, as well as the business characteristics and the value chain of, uh, each of our diverse businesses. Over our history of over 140 years, Toshiba has constantly evolved to stay ahead of the times. Today's announcement is no different. Toshiba has built a portfolio of leading the businesses. But in order to enhance our competitive positioning, each business needs greater flexibility to address its own market opportunities and challenges. The official names for the new companies will be announced in due course. Here is an overview of the three independent businesses. Infrastructure service company will, uh, consist of Toshiba energy systems and solutions, infrastructure systems and solutions, building solutions, digital solutions, and battery businesses, and become a company with the forecasted net sales of 2.1 trillion yen, according to this fiscal year's forecast. Its increased focus, combined with its innovative technological solutions, will enable it to play a leading role in driving the transition to renewable energy, to meet ambitious global carbon neutrality goals, and advancing infrastructure resilience as a leading player. Device company will com- be comprised of To- Toshiba electric device and storage solutions business, and become a company with forecasted net sales of 870 billion yen. Its products will be including power, semiconductors, high-capacity hard disk drives, HDD for data centers, and semiconductor-manufacturing equipment. It will be a global leader in supporting the evolution of social and IT infrastructure. Toshiba will continue to hold the company's on- ownership stake in Kioxia Holding Corporation and Toshiba Tec Corporation. Co- Toshiba will seek to monetize the share of Kioxia at an appropriate timing. The separation this time enables us to better align each new companies by its unique business characteristics. Infrastructure service company relate, um, business focus on the direct sale of equipment and the provision of solutions to specific customers. It has long business cycles that are more heavily dependent on negotiations between business parties than the market conditions at large. In addition, it will be a capital-light business and there are also major differences in, to the extent in which we conduct customized production. In contrast, device company primarily manufacturers and sells devices such as semiconductor's and other materials. Its business cycles are shorter and can be impacted significantly by the market conditions. It will be a capital-intensive business that requires scale of a continuous production across multiple customer orders. And 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May I start the presentation on Transforming Toshiba to Enhance Your Earth's Value and FY21 Second Quarter Consolidated Business Results. We are organizing this presentation session on online basis. From 4 to 5 o'clock, we will be presenting from our side and followed by 30 minutes question session for the member of the media. The questions from analysts and investors will be accepted from 5.30 to 6 o'clock Japan time. Please be aware of that. Now, we will be collecting questions via telephone conferencing system. As is informed to you beforehand, the conference call system will require the pre-registration beforehand. Let me introduce the presenter today, President and CEO Satoshi Tsunakawa, Corporate Senior Executive Vice President Mamoru Hatazawa, Representative Executive Officer, Corporate Executive Vice President and CFO Masayoshi Hirata. [BLANK_AUDIO] We have a chairperson of the Strategic Review Committee outside Director Paul Broth. He is joining from Hong Kong online. My name is Hara of Communications, Corporate Communication Department. We are providing simultaneous transition, so if you are watching the live streaming in Japanese, you will be able to hear translation's voice. Please be aware of that. First, before going into transferring Toshiba to enhance your value, may I have Mr. Tanaka to say a few words upon the receipt of the report from governance enhancement committee today. Mr. Sintakawa, please. Now, first of all, I'd like to say a few words on behalf of the company upon the report of the Governor's Assessment Committee. First off, I'd like to express profound appreciation to the members of the Governor's Assessment Committee who have made tremendous efforts and time since their appointment to investigate the root cause of the issue raised in the investigation report, clarify where the responsibility lies and compile recommendations for formulating the major prevent recurrence. I recognize that Toshiba's governance and assessment committee based on the strong belief that restructuring of the governance is essential for the revival of the Toshiba has compiled reports for our future. In fact, no issue of illegality was discovered according to the report of the government enhancement committee. Having said that though, I feel as a part of the same management of the company, I am extremely ashamed and embarrassed that the... the senior members of the company and their actions was concluded that an act as a whole violates the corporate ethics demanded by the market. We have just received a final report of the governance enhanced committee but we will continue to discuss the governance seriously within the company based on the contents of the report including recommendations for the formulation of the Recurrence Prevention Mediate. We believe that this recurrence prevention measures will form the very first step to restore the trust of the shewhoros which has been restored so far. Now, one of the group's philosophy is doing the right thing. Many employees on the front lines of the operations are working day to day based on this value. On the other hand, I believe that some of the members of the single management were acted quite differently from this policy and that should be sincerely remorged over. The corporate management is established based on the trust relationship with all stakeholders. The Government Assessment Committee also pointed out that the importance of top-at-the-tone and organizational leaders demonstrating their commitment to value, ethics and integrity. Until now, the culture to recognize the mistakes and the very good communication so that anyone can raise opinions escalated to a higher level, but also we need to ensure the psychological safety of all employees. We will make persistent efforts in this regard. As I will announce today, our group, the International Community Development Agency, is here to help. decided to separate the energy infrastructure business and storage device business sets. There will be separate companies and aim for the IPOs set independently. This is a drastic change but because this business will be separated and being independent and therefore, for all of us to be able to be able to get the information and access to the IPOs. This is a drastic change but because this business will be separated and being independent and therefore, for all of us to be able to access the IPOs. We are here to help you. I hope you are doing great. I hope you have a great day and I hope you are doing well. Bye. The Committee to People and Committee to the Future, based on this philosophy, under the new corporate culture, each business is poised to grow and this is a great opportunity. But beforehand, it is a critical mission of the senior management to enhance governance beforehand. I appreciate your continued support and asking for your cooperation. Thank you very much. Next, we'd like to present on the transforming Toshiba to enhance Asehora's value and Mr. Tonakawa will make presentations. Next, I'd like to explain... on our new management policy titled \"Transforming Toshiba to Enhance Children's Value.\" The corporate executive vice president, Hatazawa, will also be presenting and also online, chairperson of the Strategic Review Committee, Mr. Paul, will also be attending as well. Now, today, Toshiba Group has decided on its significant transformation to further leave forward for the future. Let me first introduce why this is the best path forward for Toshiba and our shareholders and what it means for our business going forward. And then we would like to invite Mr. Brof to explain on the evaluation made by the Strategic Review Committee. After that, Mr. Hadada will talk on what the business outlook will be for the standalone companies after separation. about our path to unlocking the value that I'd like to explain. Now, at the Board of Directory meeting held this morning, decision was made for Toshiba's strategic reorganization to separate the business into two businesses. As a result, there will be three standalone companies to be formulated. One is infrastructure service company, second is device company, and the third is Toshiba. As we concluded this strategic reorganization to be the best path forward for Toshiba and their stakeholders, we took into account the view of our important stakeholders and other case stakeholders, as well as the business characteristics and the value chain of each of our diverse businesses. Over our history of over 140 years, Toshiba has constantly evolved to stay ahead of the times. Today's announcement is no different. Toshiba has built a portfolio of leading businesses, but in order to enhance our competitive positioning, each business needs greater flexibility to address its own market opportunities and challenges. The official names for the new companies will be announced in due course. Here is an overview of the three independent businesses. Infrastructure Service Company will consist of Toshiba Energy Systems and Solutions, Infrastructure Systems and Solutions, Building Solutions, Diesel Solutions and Battery Businesses. and become a company with the forecasted net sales of 2.1 trillion according to the fiscal year's forecast. Its increased focus, combined with its innovative technological solutions, will enable it to play a leading role in driving the transition to renewable energy to meet ambitious global carbon neutrality goals and advancing infrastructure resilience as a leading player. Device company will be comprised of Toshiba Electric Device and Storage Solutions business and become a company with forecasted net sales of 870 billion yen. Its products will be including power semiconductors, high capacity hard disk drives, HDD for data centers and semiconductor manufacturing equipment. It will be a global leader in supporting the evolution of social and IT infrastructure. Toshiba will continue to hold the company's ownership stake in Kyokushia Holding Corporation and Toshiba Tech Corporation. Coach Toshiba will seek to monetize the share of Kyokushia at an appropriate timing. (crunching) The separation this time enables us to better align each new company by its unique business characteristics. Infrastructure service company really has a business focus on the direct sale of equipment and the provision of solutions to specific customers. customers. It has long business cycles that are more heavily dependent on negotiations between business parties than the market conditions at large. In addition, it will be a capital light business, and there are also major differences to the extent in which we conduct customized production. In contrast, device company primarily manufactures and sells devices such as semiconductors and other materials. Its business cycles are shorter and can be impacted significantly by the market conditions. It will be a capital intensive business that requires scale of continuous production across multiple customer orders. and we'd like to be.","model":"openai_whisper-small.en","timeElapsedInSeconds":45.67926597595215,"datasetDir":"earnings22-10mins","datasetRepo":"argmaxinc\/whisperkit-test-data","reference":"Now, it's time. May I start the presentation, uh, on transforming Toshiba to enhance shareholders' value, and FY21 second quarter consolidated business results. We are organized this presentation session on online basis. From four to five o'clock, we will be presenting from our side, and followed by 30 minutes questions session for the mend- uh, the media. The questions from allies and the investors will be accepted from 5:30 to six o'clock Japan time. Please be aware of that. Now, we will be collecting questions via telephone conferencing system. As is informed to you beforehand, the conference call system, uh, will require the pre-registration beforehand. Let me introduce the presenters today. President and CEO, Satoshi Tsunakawa. Corporate Senior Executive Vice President, Mamoru Hatazawa. Representative Executive Officer, Corporate Executive Vice President and CFO, Masayoshi Hirata. We have, uh, Chairperson of the Strategic Review Committee Outside Director, uh, Paul Brough. He is joining from Hong Kong, uh, on- online. My name is Hara of Communications, Corporate Communication Department. We are providing simultaneous translation. So if you are watching the live, uh, str- streaming in Japanese, you will be able to hear translation's voice. Please be aware of that. First, before going into transforming Toshiba to enhance shareholders' value. May I have Mister Tsunaka to say a few words, uh, upon the receipt of the report from Governance Enhancement Committee today. Mr Tsunakawa, please. Now, first of all, uh, I would like to say a few words on behalf of the, uh, the company, uh, upon the report of the Governor Enhancement Committee. First off, I would like to express profound appreciation to the members of the Governor Enhancement Committee, uh, who have made tremendous efforts and time since their appointment to investigate the root cause of the issue, uh, raised in the investigation report, clarify where the responsibility lies, and compile recommendations for formulating the measures to prevent recurrence. I recognize that the Toshiba's Governance Enhancement Committee, based on the strong belief that restructuring of the governance is essential for the revival of the Toshiba, has compiled report for our future. In fact, no issue of illegality was, uh, discovered, um, according to the report of the Governor Enhancement Committee. Having said that though, I feel as a part of the senior management of the company, I am extremely ashamed and embarrassed that the, um, the, uh, senior members of the company, uh, and their actions, uh, was concluded that an act, uh, as a whole, uh, violates the corporate ethics demanded by the market. We have just received a final report of the Governance Enhance Committee that, uh, we will continue to discuss the governance seriously within the company based on the contents of the report, including recommendations for the formulation of the recurrence prevention measures. We believe that this recurrence prevention measures will form the very first step to restore the trust of the shareholders who have, which have been restored so far. Now one of the group's philosophy is, uh, doing the right think. Uh, many employees on the front lines of the operations are working, uh, day to day, uh, based on this value. On the other hand, I believe that, uh, some of the members of the senior management were acted, uh, quite, uh, differently from this mostly, and that should be, uh, sincerely remorsed over. The corporate management is established based on the trust relationship with all stakeholders. The Governance Assessment Committee also pointed out that the importance of top <inaudible> and organizational leaders demonstrating their commitment to value, ethics and integrity. Until now, um, the culture to recognize the mistakes and the very, uh, good communication so that, uh, anyone can raise opinions escalated, uh, just to the higher level. But also, uh, we need to ensure the psychological safety of all employees. Uh, we will make, um, strict, uh, persistent efforts in this regard. As I will announce today, our group decided to separate the energy infrastructure business and storage device businesses. There will be a f- uh, the separate companies, and aim for the IPOs are set independently. This is a drastic change, but because this business will be separated and being independent, and therefore, uh, the, um, committed to people and committed to the future based on this philosophy. Under the new, uh, corporate culture, each business is poised to grow, uh, and this is a great opportunity. But beforehand, uh, it is a critical, uh, mission of the senior management to enhance governance beforehand. I appreciate your continued support and asking for your cooperation. Thank you very much. Next, we'd like to, uh, present on the transforming Toshiba to enhance our shareholders' value. And, uh, Mr. Tsunakawa will m- make presentations. Next, I would like to explain on our new management policy titled as Transforming Toshiba to Enhance Shareholders' Value. Uh, the, uh, Corporate Executive Vice, uh, President Hatazawa will also, uh, be, uh, uh, presenting. And also on online, uh, Chairperson of Strategic Review Committee, Mr. J- Paul, uh, will also be attending as well. Now, uh, to- today, Toshiba Group has decided on its significant transformation to further leap forward for the future. Let me first introduce why this is the best path forward for Toshiba, uh, and our shareholders, and what it, what it means for our business going forward. And then we would like to invite Mr. Brough to explain on the evaluation made by the Strategic Review Committee. After that, Mr. Hataza will talk on what the business outlook will be for the standalone companies after separation. First, uh, about, uh, our path to unlocking the value, uh, that I'd like to explain. Now, at the Board of Director meeting held this morning, decision was made for Toshiba's strategic reorganization to separate the business into two businesses. As a result, uh, there will be three standalone companies to be, um, formulated. One an infrastructure service company, second is device company, and the third is Toshiba. As we concluded this strategic reorganization to be the best path forward for Toshiba and their stakeholders, we took into account the view of our important shareholder, stake- shareholders and other casto- stakeholders, as well as the business characteristics and the value chain of, uh, each of our diverse businesses. Over our history of over 140 years, Toshiba has constantly evolved to stay ahead of the times. Today's announcement is no different. Toshiba has built a portfolio of leading the businesses. But in order to enhance our competitive positioning, each business needs greater flexibility to address its own market opportunities and challenges. The official names for the new companies will be announced in due course. Here is an overview of the three independent businesses. Infrastructure service company will, uh, consist of Toshiba energy systems and solutions, infrastructure systems and solutions, building solutions, digital solutions, and battery businesses, and become a company with the forecasted net sales of 2.1 trillion yen, according to this fiscal year's forecast. Its increased focus, combined with its innovative technological solutions, will enable it to play a leading role in driving the transition to renewable energy, to meet ambitious global carbon neutrality goals, and advancing infrastructure resilience as a leading player. Device company will com- be comprised of To- Toshiba electric device and storage solutions business, and become a company with forecasted net sales of 870 billion yen. Its products will be including power, semiconductors, high-capacity hard disk drives, HDD for data centers, and semiconductor-manufacturing equipment. It will be a global leader in supporting the evolution of social and IT infrastructure. Toshiba will continue to hold the company's on- ownership stake in Kioxia Holding Corporation and Toshiba Tec Corporation. Co- Toshiba will seek to monetize the share of Kioxia at an appropriate timing. The separation this time enables us to better align each new companies by its unique business characteristics. Infrastructure service company relate, um, business focus on the direct sale of equipment and the provision of solutions to specific customers. It has long business cycles that are more heavily dependent on negotiations between business parties than the market conditions at large. In addition, it will be a capital-light business and there are also major differences in, to the extent in which we conduct customized production. In contrast, device company primarily manufacturers and sells devices such as semiconductor's and other materials. Its business cycles are shorter and can be impacted significantly by the market conditions. It will be a capital-intensive business that requires scale of a continuous production across multiple customer orders. And 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We are all going to dis-resinge your session on online basis. From 425 o'clock, we will be presenting from our side and follow by 30 minutes question session for the member of the media. The questions from Alice and investors will be accepted from 530 to 6 o'clock Japan time. Please be aware of that. Now, we will be collecting questions via telephone conferencing system. As is informed to you beforehand, the conference call system will require the pre-registration beforehand. Let me introduce the presenter today, President in CEO Satoshi Tsunakawa. Co-procignar-exceptive vice-president Mamoru Hatazawa. Representative of the Office of Corporate Executive Vice-president in CFO Masayo Shihirata. [BLANK_AUDIO] We have a of the strategic review committee outside director, Paul Roth. He is joining from Hong Kong on online. My name is Hara of Communications, Corporate Communication Department. We are providing simultaneous transition so if you are watching the live streaming in Japanese you will be able to hear translations voice please be aware of that. First, before going into a transforming Toshiva to enhance your respect you may I have Mr. Tunaqa to say a few words upon the receipt of the report from Governor's Enhancement Committee today, Mr. Tunaqa. Please. Now, first of all, I'd like to say a few words on behalf of the company, upon the report of the Governor- Ensign's Mint Committee. First off, I'd like to express profound appreciation to the members of the Governor- Ensign Committee, who have made tremendous efforts and time since their appointment to investigate the root code of issue and raised in the Investigation Report, clarify where the response with the Alliance and compile recommendations for formulating the major servant recurrence. I recognize that the Toshivas Governor's assessment committee based on the strong belief that restructuring of the governor's essential for the revival of the Toshiva has compiled report for our future. In fact, no issue of illegality was discovered according to the report of the governor's enhancement committee. have he said that the I feel as a part of the thing of management of the company I am extremely ashamed and embarrassed that the. The senior members of the company and their actions was concluded that an act of the whole of all is the corporate ethics demanded by the market. We have just received a final report of the governance and has committee, but we will continue to discuss the governance seriously within the company based on the contents of the report, including recommendations for the formulation of the recurrence revision measures. We believe that this recurrence prevention measures will form the very first step to restore the trust of the shareholders who have which have been restored so far. Now one of the groups philosophy is doing the right thing. Many employees on the front lines of operations are working a day or day based on this value. On the other hand, I believe that some of the members of the Singaporean Management were acted quite differently from this policy and that should be sincerely remorse over. The corporate management is established based on the trust relationship with all stakeholders, the governance assessment committee, also pointed out that the importance of top at the tone and organizational leaders demonstrating their commitment to value ethics and integrity. Until now, the culture to recognize the mistakes and the very good communication so that anyone can raise opinions escalated to the high-album, but also we need to ensure the psychological safety of all employees. We will make a strict persistent efforts in this regard. As a well, announced today, our group, and the group, we will be able to do a lot of work. They started to separate the energy infrastructure, business and storage device, the success, they will be the separate companies and aim for the IPOs, asset independently. This is a drastic change, but because this business will be separated and being independent and therefore, the company will be able to do it. the committed to people and committed to the future based on this philosophy under the new corporate culture each business is supposed to grow in this great opportunity. But beforehand, it is a critical mission of the seeing a management to enhance governance beforehand. I appreciate your continuous support and asking for your cooperation. Thank you very much. Next, we'd like to present on the transforming Toshiba to enhance Ashihori's value and Mr. Tuna Kawa will make presentations. Next, I'd like to explain On a renewed management policy titled \"Transforming Toshiba to Enhanced Shelders Value\", the appropriate executive vice president, does that well also be presenting and also on online, a shareperson of strategic review committee, Mr. Paul, will also be attending as well. Now, today, Toshiba Group has decided on its significant transformation to further leave forward for the future. Let me first introduce why this is the best path forward for Toshiba and our shareholders. And what it means for our business going forward. And then, we would like to invite Mr. Braff to explain on the evaluation made by the Strategic Review Committee. After that, Mr. Hadada will talk on, but the business outlook will be for the standalone companies after separation. about our path to unlocking the value of that up to explain. Now, at the board of that lecture meeting held this morning, this is what's made for Toshiba's strategic reorganization, to separate the business into two businesses of the result. There will be three standalone companies to be formulated. One is infrastructure service company. Second is the vast company and the third is Toshiba. As we conclude that the strategic reorganization to be the best path forward for Toshiba and their stakeholders, we took into account the view of our important shareholders and other people as well as the business characteristics and the value chain of each of our diverse businesses. Over our history of over 140 years, Toshiba has constantly evolved to stay ahead of the times. Today's announcement is no different. Toshiba has built a portfolio of leading businesses, but in order to enhance our competitive positioning, each business needs greater flexibility to address its own market opportunities and challenges. The official names for the new companies will be announced in due course. Here is an overview of the three independent businesses. If the infrastructure service company will consist of Toshiba Energy Systems Solutions, if the structure system's solutions, building solutions, digital solutions and battery businesses. and become a company with the forecasted nest sales of 2.1 trillion according to the fiscal year's forecast. It's increased focus combined with its innovative technological solutions, well enable it to play a lean role in driving the transition to renewable energy to meet ambitious global carbon neutrality goals and advancing infrastructure resilience as a leading player. Device company will be comprised of the Toshiba Electric Device and Storage Solutions business and become a company with four casted nestles of 870 billion yen. It's products will be including powers and conductors, high capacity hard disk drives HDD, 4 data centers, and semiconductor my functioning equipment. It will be a global leader in supporting the evolution of social and IT infrastructure. Toshiba will continue to hold the companies on ownership, stake and Kyokshia holding cooperation and Toshiba tech cooperation. Toshiba will seek to monetize the share of Kyokshia at an appropriate timing. (sizzling) The separation, this time, enables us to better align each new company's by its unique business characteristics. In fact, your service company, really, business focus on the direct sale of equipment and the provision of solutions to specific customers. It has long business cycles that are more heavily dependent on negotiations between business parties than the market conditions of large. In addition, it will be a capital-light business, and there are also major differences in to the extent in which we conduct customized production. In contrast, device company primarily manufactures and cells devices such as sneakon drafters and other materials, its business cycles are shorter and can be impacted significantly by the market conditions. It will be a capital intensive business that requires scale of a continuous production across multiple customer orders. 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May I start the presentation, uh, on transforming Toshiba to enhance shareholders' value, and FY21 second quarter consolidated business results. We are organized this presentation session on online basis. From four to five o'clock, we will be presenting from our side, and followed by 30 minutes questions session for the mend- uh, the media. The questions from allies and the investors will be accepted from 5:30 to six o'clock Japan time. Please be aware of that. Now, we will be collecting questions via telephone conferencing system. As is informed to you beforehand, the conference call system, uh, will require the pre-registration beforehand. Let me introduce the presenters today. President and CEO, Satoshi Tsunakawa. Corporate Senior Executive Vice President, Mamoru Hatazawa. Representative Executive Officer, Corporate Executive Vice President and CFO, Masayoshi Hirata. We have, uh, Chairperson of the Strategic Review Committee Outside Director, uh, Paul Brough. He is joining from Hong Kong, uh, on- online. My name is Hara of Communications, Corporate Communication Department. We are providing simultaneous translation. So if you are watching the live, uh, str- streaming in Japanese, you will be able to hear translation's voice. Please be aware of that. First, before going into transforming Toshiba to enhance shareholders' value. May I have Mister Tsunaka to say a few words, uh, upon the receipt of the report from Governance Enhancement Committee today. Mr Tsunakawa, please. Now, first of all, uh, I would like to say a few words on behalf of the, uh, the company, uh, upon the report of the Governor Enhancement Committee. First off, I would like to express profound appreciation to the members of the Governor Enhancement Committee, uh, who have made tremendous efforts and time since their appointment to investigate the root cause of the issue, uh, raised in the investigation report, clarify where the responsibility lies, and compile recommendations for formulating the measures to prevent recurrence. I recognize that the Toshiba's Governance Enhancement Committee, based on the strong belief that restructuring of the governance is essential for the revival of the Toshiba, has compiled report for our future. In fact, no issue of illegality was, uh, discovered, um, according to the report of the Governor Enhancement Committee. Having said that though, I feel as a part of the senior management of the company, I am extremely ashamed and embarrassed that the, um, the, uh, senior members of the company, uh, and their actions, uh, was concluded that an act, uh, as a whole, uh, violates the corporate ethics demanded by the market. We have just received a final report of the Governance Enhance Committee that, uh, we will continue to discuss the governance seriously within the company based on the contents of the report, including recommendations for the formulation of the recurrence prevention measures. We believe that this recurrence prevention measures will form the very first step to restore the trust of the shareholders who have, which have been restored so far. Now one of the group's philosophy is, uh, doing the right think. Uh, many employees on the front lines of the operations are working, uh, day to day, uh, based on this value. On the other hand, I believe that, uh, some of the members of the senior management were acted, uh, quite, uh, differently from this mostly, and that should be, uh, sincerely remorsed over. The corporate management is established based on the trust relationship with all stakeholders. The Governance Assessment Committee also pointed out that the importance of top <inaudible> and organizational leaders demonstrating their commitment to value, ethics and integrity. Until now, um, the culture to recognize the mistakes and the very, uh, good communication so that, uh, anyone can raise opinions escalated, uh, just to the higher level. But also, uh, we need to ensure the psychological safety of all employees. Uh, we will make, um, strict, uh, persistent efforts in this regard. As I will announce today, our group decided to separate the energy infrastructure business and storage device businesses. There will be a f- uh, the separate companies, and aim for the IPOs are set independently. This is a drastic change, but because this business will be separated and being independent, and therefore, uh, the, um, committed to people and committed to the future based on this philosophy. Under the new, uh, corporate culture, each business is poised to grow, uh, and this is a great opportunity. But beforehand, uh, it is a critical, uh, mission of the senior management to enhance governance beforehand. I appreciate your continued support and asking for your cooperation. Thank you very much. Next, we'd like to, uh, present on the transforming Toshiba to enhance our shareholders' value. And, uh, Mr. Tsunakawa will m- make presentations. Next, I would like to explain on our new management policy titled as Transforming Toshiba to Enhance Shareholders' Value. Uh, the, uh, Corporate Executive Vice, uh, President Hatazawa will also, uh, be, uh, uh, presenting. And also on online, uh, Chairperson of Strategic Review Committee, Mr. J- Paul, uh, will also be attending as well. Now, uh, to- today, Toshiba Group has decided on its significant transformation to further leap forward for the future. Let me first introduce why this is the best path forward for Toshiba, uh, and our shareholders, and what it, what it means for our business going forward. And then we would like to invite Mr. Brough to explain on the evaluation made by the Strategic Review Committee. After that, Mr. Hataza will talk on what the business outlook will be for the standalone companies after separation. First, uh, about, uh, our path to unlocking the value, uh, that I'd like to explain. Now, at the Board of Director meeting held this morning, decision was made for Toshiba's strategic reorganization to separate the business into two businesses. As a result, uh, there will be three standalone companies to be, um, formulated. One an infrastructure service company, second is device company, and the third is Toshiba. As we concluded this strategic reorganization to be the best path forward for Toshiba and their stakeholders, we took into account the view of our important shareholder, stake- shareholders and other casto- stakeholders, as well as the business characteristics and the value chain of, uh, each of our diverse businesses. Over our history of over 140 years, Toshiba has constantly evolved to stay ahead of the times. Today's announcement is no different. Toshiba has built a portfolio of leading the businesses. But in order to enhance our competitive positioning, each business needs greater flexibility to address its own market opportunities and challenges. The official names for the new companies will be announced in due course. Here is an overview of the three independent businesses. Infrastructure service company will, uh, consist of Toshiba energy systems and solutions, infrastructure systems and solutions, building solutions, digital solutions, and battery businesses, and become a company with the forecasted net sales of 2.1 trillion yen, according to this fiscal year's forecast. Its increased focus, combined with its innovative technological solutions, will enable it to play a leading role in driving the transition to renewable energy, to meet ambitious global carbon neutrality goals, and advancing infrastructure resilience as a leading player. Device company will com- be comprised of To- Toshiba electric device and storage solutions business, and become a company with forecasted net sales of 870 billion yen. Its products will be including power, semiconductors, high-capacity hard disk drives, HDD for data centers, and semiconductor-manufacturing equipment. It will be a global leader in supporting the evolution of social and IT infrastructure. Toshiba will continue to hold the company's on- ownership stake in Kioxia Holding Corporation and Toshiba Tec Corporation. Co- Toshiba will seek to monetize the share of Kioxia at an appropriate timing. The separation this time enables us to better align each new companies by its unique business characteristics. Infrastructure service company relate, um, business focus on the direct sale of equipment and the provision of solutions to specific customers. It has long business cycles that are more heavily dependent on negotiations between business parties than the market conditions at large. In addition, it will be a capital-light business and there are also major differences in, to the extent in which we conduct customized production. In contrast, device company primarily manufacturers and sells devices such as semiconductor's and other materials. Its business cycles are shorter and can be impacted significantly by the market conditions. It will be a capital-intensive business that requires scale of a continuous production across multiple customer orders. 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it's time. May I start the presentation, uh, on transforming Toshiba to enhance shareholders' value, and FY21 second quarter consolidated business results. We are organized this presentation session on online basis. From four to five o'clock, we will be presenting from our side, and followed by 30 minutes questions session for the mend- uh, the media. The questions from allies and the investors will be accepted from 5:30 to six o'clock Japan time. Please be aware of that. Now, we will be collecting questions via telephone conferencing system. As is informed to you beforehand, the conference call system, uh, will require the pre-registration beforehand. Let me introduce the presenters today. President and CEO, Satoshi Tsunakawa. Corporate Senior Executive Vice President, Mamoru Hatazawa. Representative Executive Officer, Corporate Executive Vice President and CFO, Masayoshi Hirata. We have, uh, Chairperson of the Strategic Review Committee Outside Director, uh, Paul Brough. He is joining from Hong Kong, uh, on- online. My name is Hara of Communications, Corporate Communication Department. We are providing simultaneous translation. So if you are watching the live, uh, str- streaming in Japanese, you will be able to hear translation's voice. Please be aware of that. First, before going into transforming Toshiba to enhance shareholders' value. May I have Mister Tsunaka to say a few words, uh, upon the receipt of the report from Governance Enhancement Committee today. Mr Tsunakawa, please. Now, first of all, uh, I would like to say a few words on behalf of the, uh, the company, uh, upon the report of the Governor Enhancement Committee. First off, I would like to express profound appreciation to the members of the Governor Enhancement Committee, uh, who have made tremendous efforts and time since their appointment to investigate the root cause of the issue, uh, raised in the investigation report, clarify where the responsibility lies, and compile recommendations for formulating the measures to prevent recurrence. I recognize that the Toshiba's Governance Enhancement Committee, based on the strong belief that restructuring of the governance is essential for the revival of the Toshiba, has compiled report for our future. In fact, no issue of illegality was, uh, discovered, um, according to the report of the Governor Enhancement Committee. Having said that though, I feel as a part of the senior management of the company, I am extremely ashamed and embarrassed that the, um, the, uh, senior members of the company, uh, and their actions, uh, was concluded that an act, uh, as a whole, uh, violates the corporate ethics demanded by the market. We have just received a final report of the Governance Enhance Committee that, uh, we will continue to discuss the governance seriously within the company based on the contents of the report, including recommendations for the formulation of the recurrence prevention measures. We believe that this recurrence prevention measures will form the very first step to restore the trust of the shareholders who have, which have been restored so far. Now one of the group's philosophy is, uh, doing the right think. Uh, many employees on the front lines of the operations are working, uh, day to day, uh, based on this value. On the other hand, I believe that, uh, some of the members of the senior management were acted, uh, quite, uh, differently from this mostly, and that should be, uh, sincerely remorsed over. The corporate management is established based on the trust relationship with all stakeholders. The Governance Assessment Committee also pointed out that the importance of top <inaudible> and organizational leaders demonstrating their commitment to value, ethics and integrity. Until now, um, the culture to recognize the mistakes and the very, uh, good communication so that, uh, anyone can raise opinions escalated, uh, just to the higher level. But also, uh, we need to ensure the psychological safety of all employees. Uh, we will make, um, strict, uh, persistent efforts in this regard. As I will announce today, our group decided to separate the energy infrastructure business and storage device businesses. There will be a f- uh, the separate companies, and aim for the IPOs are set independently. This is a drastic change, but because this business will be separated and being independent, and therefore, uh, the, um, committed to people and committed to the future based on this philosophy. Under the new, uh, corporate culture, each business is poised to grow, uh, and this is a great opportunity. But beforehand, uh, it is a critical, uh, mission of the senior management to enhance governance beforehand. I appreciate your continued support and asking for your cooperation. Thank you very much. Next, we'd like to, uh, present on the transforming Toshiba to enhance our shareholders' value. And, uh, Mr. Tsunakawa will m- make presentations. Next, I would like to explain on our new management policy titled as Transforming Toshiba to Enhance Shareholders' Value. Uh, the, uh, Corporate Executive Vice, uh, President Hatazawa will also, uh, be, uh, uh, presenting. And also on online, uh, Chairperson of Strategic Review Committee, Mr. J- Paul, uh, will also be attending as well. Now, uh, to- today, Toshiba Group has decided on its significant transformation to further leap forward for the future. Let me first introduce why this is the best path forward for Toshiba, uh, and our shareholders, and what it, what it means for our business going forward. And then we would like to invite Mr. Brough to explain on the evaluation made by the Strategic Review Committee. After that, Mr. Hataza will talk on what the business outlook will be for the standalone companies after separation. First, uh, about, uh, our path to unlocking the value, uh, that I'd like to explain. Now, at the Board of Director meeting held this morning, decision was made for Toshiba's strategic reorganization to separate the business into two businesses. As a result, uh, there will be three standalone companies to be, um, formulated. One an infrastructure service company, second is device company, and the third is Toshiba. As we concluded this strategic reorganization to be the best path forward for Toshiba and their stakeholders, we took into account the view of our important shareholder, stake- shareholders and other casto- stakeholders, as well as the business characteristics and the value chain of, uh, each of our diverse businesses. Over our history of over 140 years, Toshiba has constantly evolved to stay ahead of the times. Today's announcement is no different. Toshiba has built a portfolio of leading the businesses. But in order to enhance our competitive positioning, each business needs greater flexibility to address its own market opportunities and challenges. The official names for the new companies will be announced in due course. Here is an overview of the three independent businesses. Infrastructure service company will, uh, consist of Toshiba energy systems and solutions, infrastructure systems and solutions, building solutions, digital solutions, and battery businesses, and become a company with the forecasted net sales of 2.1 trillion yen, according to this fiscal year's forecast. Its increased focus, combined with its innovative technological solutions, will enable it to play a leading role in driving the transition to renewable energy, to meet ambitious global carbon neutrality goals, and advancing infrastructure resilience as a leading player. Device company will com- be comprised of To- Toshiba electric device and storage solutions business, and become a company with forecasted net sales of 870 billion yen. Its products will be including power, semiconductors, high-capacity hard disk drives, HDD for data centers, and semiconductor-manufacturing equipment. It will be a global leader in supporting the evolution of social and IT infrastructure. Toshiba will continue to hold the company's on- ownership stake in Kioxia Holding Corporation and Toshiba Tec Corporation. Co- Toshiba will seek to monetize the share of Kioxia at an appropriate timing. The separation this time enables us to better align each new companies by its unique business characteristics. Infrastructure service company relate, um, business focus on the direct sale of equipment and the provision of solutions to specific customers. It has long business cycles that are more heavily dependent on negotiations between business parties than the market conditions at large. In addition, it will be a capital-light business and there are also major differences in, to the extent in which we conduct customized production. In contrast, device company primarily manufacturers and sells devices such as semiconductor's and other materials. Its business cycles are shorter and can be impacted significantly by the market conditions. It will be a capital-intensive business that requires scale of a continuous production across multiple customer orders. And relatively.","wer":0.15921483097055616,"modelSizeMB":147,"timeElapsedInSeconds":8.919837951660156,"prediction":"Now, it's time. May I start the presentation on Transforming to Shiba Tzu and Han Shiyar's values, and F-I-21 second quarter consolidated business results. We are organized this presentation session on online basis. From 4 to 5 o'clock, we will be presenting from our side and followed by 30 minutes, Question session for the Mind of the Media. The questions from Alice and the investors will be accepted from 5.30 to 6 o'clock Japan time, please be aware of that. Now, we will be collecting questions via telephone conferencing system. As it informs you beforehand, the conference call system will require the pre-registration beforehand. Let me introduce the presenters today. President NCEO Satoshi Sunakawa. Co-presenting executive vice-president, Mamoru Hatazawa. Representative this is the officer, Co-present executive vice-president, NCEO Masayoshi Hirata. We have a chairperson of the Strategic Review Committee outside director, Paul Brof, who is joining from Hong Kong on my. My name is Hara of Communications Corporate Communication Department. We are providing simultaneously transition, so if you are watching, that live streaming in Japanese, you will be able to hear translation's voice. Please be aware of that. First, before going into transferring Mito Shiba to NHANSHI Haru's value, may I have Mr. Tanaka to say a few words upon the receipt of the report from Governor's enhancement committee today. Mr. Snaqala, please. Now, first of all, I would like to say a few words on behalf of the company upon the report of the Governor and Fifth Amendment Committee. First off, I would like to express profound appreciation to the members of the Governor and Fifth Committee, who have made tremendous efforts and time since their appointment to investigate the root codes of issue and raised in the investigation report, qualify where the response to the lights and compile recommendations for formulating the major to prevent recurrence. I recognize that the Toshiba's Governor's Encement Committee based on the strong belief that restructuring of the governance is incision for the revival of the Toshiba has compiled reports for our future. In fact, no issue of illegality was discovered according to the report of the Governor and Handsome Committee. Having said that, I feel as a part of the senior management of the company, I am extremely ashamed and embarrassed that the... The senior members of the company and their actions was concluded that an act as a whole, a validist, the corporate ethics demanded by the market. We have just received the final reports of the Governor's In-Hev's Committee, but we will continue to discuss the governance seriously within the company based on the contents of the report, including recommendations for the formulation of the recurrence revision measures. It's good. We believe that this recurrence provincial measures will form the very first step to restore the trust of the shareholders, which have been restored so far. Now, one of the groups philosophy is doing the right thing. Many employees on the front lines of operations are working a day-to-day based on this value. On the other hand, I believe that some of the members of the Singing Management were acted quite differently from this philosophy and that should be sincerely remorced over. The corporate management is established based on the trust relationship with all stakeholders, the government assessment committee, also pointed out that the importance of top at the tone and organizational leaders demonstrating their commitment to value ethics and integrity. Until now, the culture to recognize the mistakes and the very good communication so that anyone can raise opinions, escalate it to the high level, but also we need to ensure the psychological safety of all employees. We will make persistent efforts in this regard. As I will announce today, our group. Decided to separate the energy, infrastructure, business and storage device business that will be separate companies and aim for the IPOs, except independently. This is a drastic change, but because these business will be separated and being independent and therefore, The committee to people and committee to the future based on this philosophy under the new appropriate culture each business is poised to grow and this is a great opportunity. But beforehand, it is a critical mission of the CM management to enhance governance beforehand. I appreciate your continued support and asking for your cooperation. Thank you very much. Next, we'd like to present on the transforming to Shiba to enhance Ashihor's value and Mr. Tanakawa will make presentations. Next, I'd like to explain. On our new management policy titled a transforming tote to enhance the shoulders value. The corporate executive vice president, Hata Zawa, will also be presenting and also on my share person of strategic review committee, Mr. Paul, will also be attending as well. Now, today, Toshiba Group has decided to send a transformation to further re-forward for the future. Let me first introduce why this is the best path forward for Toshiba and Oursio Hooters, and what it means for our business going forward. And then we would like to invite Mr. Braff to explain on the evaluation made by the Strategic Review Committee. After that, Mr. Hadada will talk on what the business outlook will be for the standalone companies after separation. about our path to unlocking the value that I would like to explain. Now, at the Board of the Director Meeting Health this morning, this is a what's made for Toshiba Strategic Reorganization to separate the businesses into two businesses as a result. There will be three standalone companies to be formulated. One is Infrastructure Service Company, second is Device Company, and the third is Toshiba. As we conclude that the strategic reorganization to be the best path forward for Tojibah and their stakeholders, we took into account the view of our important shareholder stakeholders and other case stakeholders, as well as the business characteristics and the value chain of each of our diverse businesses. Over our history of over 140 years, Toshiba has constantly evolved to stay ahead of the times. Today's announcement is no different. Toshiba has built a portfolio of leading businesses, but in order to enhance our competitive positioning, each business needs greater flexibility to address its own market opportunities and challenges. The official names for the new companies will be announced in due course. Here is an overview of the three independent businesses. If the SUSTER Service Company will consist of Toshiba Energy Systems and Solutions, Infrastructures Systems and Solutions, Building Solutions, Diesel Solutions and Battery Businesses. and become a company with the forecasted net sales of 2.1 trillion according to the fiscal years forecast. Its increased focus combined with its innovative technological solutions well-enabled yet to play a lean role in driving the transition to renewable energy to meet ambitious global carbon neutrality goals and advancing infrastructure resilience as a leading player. Device company will be comprised of the Toshiba electric device and storage solutions business and become a company with forecasted vessels of 870 billion yen. Its products will be including powers and conductors, high capacity, hard disk drives HDD for data centers and semiconductor might actually be an equipment. meant. It will be a global leader in supporting the evolution of social and IT infrastructure. Toshiba will continue to hold the companies on ownership stake in Kyoksha holding cooperation and Toshiba technology. Koto-Shiba will seek to monetize the share of Kyoksha at an appropriate timing. The separation this time enables us to better align each new company by its unique business characteristics. If I set up your service company, really it business focus on the direct sale of equipment and the provision of solutions to specific customers. It has long business cycles that are more heavily dependent on negotiations between business parties than the market conditions and large. In addition, it will be a capital-light business, and there are also major differences in which we conduct customized production. In contrast, device company primarily manufactures and sells devices such as nickel-industrial and other materials, its business cycles are shorter and can be impacted significantly by the market conditions. 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+    ],
+    "openai_whisper-base.en": [
+      "MacBookAir10,1_openai_whisper-base_en_2024-10-26T072137Z_librispeech-10mins_1_BF066F21-2334-46CD-AD99-451FC6CF6D98.json",
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+    ],
+    "openai_whisper-small": [
+      "MacBookAir10,1_openai_whisper-small_2024-10-26T072710Z_librispeech-10mins_1_09F0D856-1280-4CEE-AA1F-3B8FB8FD01D0.json",
+      "MacBookAir10,1_openai_whisper-small_2024-10-26T072744Z_earnings22-10mins_1_4AB54B32-AB65-4BCC-9143-8DD6DFE3AEA4.json"
+    ],
+    "openai_whisper-small.en": [
+      "MacBookAir10,1_openai_whisper-small_en_2024-10-26T073301Z_librispeech-10mins_1_4B382CA8-CAF2-4DAA-AC04-2FFD7E6D6619.json",
+      "MacBookAir10,1_openai_whisper-small_en_2024-10-26T073350Z_earnings22-10mins_1_F9BA9F96-3B8A-4207-AC21-3B5F7AD2B919.json"
+    ],
+    "openai_whisper-large-v2_949MB": [
+      "MacBookAir10,1_openai_whisper-large-v2_949MB_2024-10-26T074646Z_earnings22-10mins_1_3C37B0EF-FF59-4C0B-A143-C8D8B90C2BAE.json"
+    ],
+    "openai_whisper-large-v3_947MB": [
+      "MacBookAir10,1_openai_whisper-large-v3_947MB_2024-10-26T075853Z_earnings22-10mins_1_F7011E80-8589-435B-8621-9C4ADB946869.json"
+    ],
+    "distil-whisper_distil-large-v3_594MB": [
+      "MacBookAir10,1_distil-whisper_distil-large-v3_594MB_2024-10-26T080815Z_earnings22-10mins_1_02C3F56F-1B34-4C28-9583-5D890DF53740.json"
+    ],
+    "openai_whisper-large-v3-v20240930_626MB": [
+      "MacBookAir10,1_openai_whisper-large-v3-v20240930_626MB_2024-10-26T082029Z_earnings22-10mins_1_C0661BA6-BB92-43DB-8365-8AB1AAF527C7.json"
+    ]
+  },
+  "commitHash": "a74a592",
+  "commitTimestamp": "2024-10-25T190933"
+}
\ No newline at end of file